Figma, a design software company, is filing for an IPO after a failed $20 billion acquisition deal with Adobe in 2023.
Investors believe that the abandoned deal with Adobe reinvigorated innovation at Figma and opened up new opportunities, particularly in AI.
Figma collected a $1 billion breakup fee after the failed deal, leading to a resurgence in product development with the launch of four new products in May.
Investors see Figma's potential as a stand-alone company, especially with its founder-led structure and focus on bridging imagination and reality through AI.