Figma, a popular platform for collaborative design, has filed for an initial public offering (IPO) and will trade under the stock symbol “FIG.”
The company plans to increase its investment in artificial intelligence (AI) to enhance design workflows.
Back in 2022, Adobe tried to buy Figma for $20 billion, but the deal was canceled in 2023 due to pressure from regulators in the UK and the European Union. Figma’s CEO, Dylan Field, had earlier said the company was exploring both acquisition and going public, and now they’ve chosen the IPO route.
Figma’s revenue has grown from $156.2 million to $228.2 million compared to the same time last year. The company has also added new features like tools for website building, AI coding, marketing design, and digital art. It is also allowing AI models to access its design systems to speed up development.
“We’re already investing heavily in AI and we plan to double down even more in this area,” Field said. He admitted that AI could reduce efficiency in the short term, but believes it will play a key role in the future of design.
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