May 16, 2024 - Business

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

Kia Kokalitcheva

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

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