Reports indicate that Figma, a popular UX/UI design app, has been in talks with several financial institutions recently to take the company public via an IPO at the earliest within this year.
Figma had previously agreed to sell its business to Adobe in 2022 for a whopping $20 billion, but the deal fell through shortly after, following opposition from competition watchdogs in several countries.
Currently, Figma boasts a global user base, with 85% located outside the United States, and more than half of its revenue also coming from international markets. The majority of its customers, 2 out of 3, identify as product designers.
Source: The New York Times
TLDR: Figma is in discussions with financial institutions to go public, following a failed deal with Adobe. The company has a strong international presence and a significant customer base in product design.
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