May 16, 2024 - Business

Figma launches tender for employees, investors at $12B valuation

photo of Figma mobile icon on a device

Photo: Gabby Jones/Bloomberg via Getty Images

Figma, the collaborative online design software maker, is doing a tender offer for investors and employees at a $12.5 billion valuation.

Why it matters: The deal comes after its $20 billion sale to Adobe fell apart last year, and suggests the company — and investors — still see significant growth potential. The new offer has 25 existing and new backers participating.

Zoom in: Figma expects the tender to be between $600 million and $900 million.

  • New investors include Atlassian, Fidelity, Franklin Venture Partners, and Iconiq Growth; existing investors include Sequoia, Greenoaks, Thrive Capital, Durable, Andreessen Horowitz, and Kleiner Perkins.

Between the lines: The current valuation is below where Adobe priced the company, but 25% above the $10 billion figure where it last raised new funding in 2021.

  • The investor interest also suggests that existing investors are bullish enough to double down on their bet, while new entrants are willing to pay top dollar for a slice.

Go deeper: Life after a failed M&A deal

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