Figma aims for a fully-diluted valuation of up to $16.4 billion in its upcoming initial public offering, as the cloud-based design software company gets ready for a debut on the NYSE that could invigorate the recovering market for tech IPOs.

The San Francisco company, along with various investors, is targeting proceeds of up to $1.03 billion by offering nearly 37 million shares priced between $25 and $28 each.

This listing could represent a significant achievement for Figma, following the failed $20 billion acquisition by Adobe over regulatory issues in Europe and the UK more than a year ago.

An equity market rally and a series of strong IPO debuts have alleviated pressure on the IPO market. Figma is anticipated to commence trading shortly after the stablecoin giant Circle, which experienced impressive gains in its debut last month and has continued to rise since then.

As a prominent player in technology that shows support for bitcoin, Figma has already captured attention on social media.

As of March 31, the company held about $70 million invested in Bitwise's bitcoin exchange-traded fund and plans to allocate an additional $30 million into bitcoin, according to the reports.

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Figma intends to list under the ticker symbol "FIG." Morgan Stanley, Goldman Sachs, Allen & Co, and J.P. Morgan are among the underwriters for this offering.

Last year, it was valued at $12.5 billion in a tender offer that allowed employees and early investors to liquidate part of their holdings.

Figma operates as a cloud-based design platform that enables users to collaboratively create and modify apps, websites, and software interfaces.

Notable customers include ServiceNow, Workday, and SAP. In the first quarter of 2025, its revenue increased by 46 percent, while net income surged threefold.

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"Figma's product serves as its primary marketing tool. The collaborative aspect encourages viral, grassroots adoption, resulting in exceptional sales efficiency," says Tomasz Tunguz, founder of the venture capital firm Theory Ventures.