<ul data-eligibleForWebStory="true"><li>Figma publicly shared its financials, hinting at an upcoming IPO which could raise as much as $1.5 billion, potentially matching CoreWeave's $1.5 billion IPO earlier in 2025.</li><li>Figma's financial health looks strong - reporting $749 million in revenue in 2024, with a 48% increase from the previous year. It also reported profitability by Q4 of 2024 and Q1 of 2025.</li><li>The company disclosed some interesting details in its S-1 filing, such as minimal debt, major backers like Index, Greylock, Kleiner Perkins, and Sequoia, and executive actions like a big tender offer allowing cashing out of shares.</li><li>Figma faces competition from AI design apps like Lovable, but also has its own AI offerings. The company highlights the risk of potential competition and the need to stay competitive in the evolving AI landscape in its regulatory filing.</li></ul>

Figma moves closer to a blockbuster IPO that could raise $1.5B

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