The strongest IPO of 2025 is about to go public! Can the design giant Figma become the next Circle?

IPOs in the US equity market have quietly recovered this year.

According to the latest data from S&P Global Market Intelligence, there were 59 corporate IPOs in the United States in the second quarter, totaling $15.02 billion, an increase from 45 IPOs ($11.23 billion) in the first quarter.

This Week 4, the US Stock Market Will Welcome a Major Heavyweight Technology Stock—— $Figma(FIG.US)$ 。

Looking back at this year's US IPO, “Stable Coin No. 1” $Circle(CRCL.US)$ Fried baby formula, plus NVIDIA Infant Feeding $CoreWeave(CRWV.US)$ The surprise surge in share prices is sending a clear signal to the market: investors' appetite for IPOs of high-risk emerging growth companies is reawakened, Wall Street IPO frenzy or is replaying.

You can see from the following picture that the first day of the stock market in the stock market, the stock market has increased by as much as 500% to date. COREWEAVE has not entered the market on the first day of the market and the market forecast, but the market has risen by more than 175% on the day of the debut of the US defense and space system manufacturer KarmanHoldings It has risen by 36%, and the listing has been reversed.

According to recent reports, the upcoming FIGMA IPO, which will be the first IPO of investors, led to the purchase of more than $30. Figma will range the issue price range from $25-28 per share to $30-32, with a total valuation of nearly $18.8 billion.

However, Adobe expects to acquire Figma for US$20 billion in 2022, but the Trade will be canceled, in response to regulatory Institutions. This is why this pen was bought and put on a $20 billion label with Figma. Please be aware that there is currently no AI addition to Figma.

This time, listed FIGMA requires investors to place limit price orders, rather than those common in non-traditional IPOs, to get more accurate stock valuation information. THIS TYPE OF IPOS CAN BE BOUGHT AND SOLD. According to an informed person, Figma requires that the practice of the CPA is to provide companies with more detailed information to understand the value of Stocks that investors determine. This approach, in theory, can allow companies to tap into more hidden investment passions.

Want to know what an “auction-style IPO” is? Click to view the article:The Largest Technology Share of the Year is Coming! Is it possible to fly AI software shares in Figma to be listed now?

What company is the latest Figma tool? What is the color? Futubull will give you a lecture.

What company is Figma?

Figma, the global head of UI design software, has revolutionized the collaborative pattern of traditional design tools, allowing teams to edit interfaces, prototypes, and documents in real-time in the browser, breaking regional and device constraints. The company is also known as the “infrastructure” of the design world.

The rise of Figma really broke the traditional pattern of design processes. It does not simply add functionality, but rather restructures the way we collaborate from the bottom of the product. Unlike the tedious “export-upload-feedback” splitting process of native tools, Figma natively supports multi-side synchronization and multi-person real-time editing, allowing product managers, designers, and engineers to collaborate as seamlessly as they do with files.

Especially during the pandemic, this model of collaboration has become an irreplaceable necessity in the era of remote work, and Figma has also achieved explosive growth among enterprise users.

As Figma's open and collaborative way of working draws more people into the design process, the company has also expanded its range of services to cover the roles and steps involved in the product, from the creative to the final delivery to the user. The company's early commitment to the browser platform enabled it to quickly launch new products and turn a profit.

Figma is an end-to-end product design and development platform. It provides tools that cover the entire process: teams can brainstorm and make decisions using FigJam (online whiteboard) and Figma Slides (presentation tool); designers achieve creative visualization with Figma Design (core design tool) and Figma Draw (vector editing); developers transform design efficiently into generations with Dev Mode Code; eventually, you can publish responsive websites through Figma Sites and create marketing materials with Figma Buzz.

Figma is not just about making an online collaborative design platform—this year, FIGMA will further integrate AI into the design workflow. Figma Make is an AI-powered tool that converts cue words into functions. The user can create a running prototype directly from the instructions, so that the user can freely select further input instructions and edit the code directly, and then visualize the operation.

Figma coloring geometry?

According to information disclosed by Figma, 2024 revenue was $0.749 billion, an increase of 48% year-on-year, and revenue for the first quarter of fiscal 2025 was $0.228 billion, an increase of 46% year-on-year.

The company has more than 13 million monthly active users, of which only a third are designers. As of March 31, approximately 85% of monthly users came from outside the United States, while 53% of revenues came from overseas markets.

In terms of gross margin, Figma reached an astonishing 91%. The products or services of companies with high gross margins provide unique advantages in the market, which can be the CSI Leading Technology Index, high brand prices, or the lack of resources, the company takes the initiative in pricing to achieve profit margins far beyond the industry average.

As of March 31 of this year, the company had approximately 0.45 million corporate customers, and as of March 31, 2025, the number of customers who paid more than 0.01 million US dollars per year on the Figma platform reached 11107 households with revenues of over 0.1 million US dollars per year, an increase of 47%. Other customer names include multi-national companies such as Mercado Libre, Netflix and Stripe.

Outside, Figma's revenue retention rate (NDR) is as high as 132%. In most Industries, between 120 and 130 percent of NDRs are satisfied with higher and higher levels of continuous growth. The Company considers NDR to be an Important Indicator as it balances the capacity of other resident customers and expanding customer base.

Figma has just started investing in Digital Currency: In 2024, the company's CEO approved a $55 million investment in Bitwise Bitcoin Exchange Fund Funds. As of March 31, the investment value was USD 69.5 million. In May, the Board of Directors approved a $30 million Bitcoin investment, and Figma invested the funds in USD Coin stablecoin.

It is worth noting that Figma discloses in the Promissory Shareholder the Ordinary Shares that have been authorized to issue the Zonal Blockchain, in the form of coins of the Core Zone Blockchain. No more than the Company indicates a plan not to issue such Stocks in the future.

As a whole, Figma is a furniture brand that protects the city and its users. But it was in the stock exchange that Figma agreed to invest in AI's short-term profits, stating: “In the short term, AI investments will squeeze our gross margin and operating profit ratio.” The final impact on the Company's Business and Financial Condition cannot be determined in the future.

That is, AI becomes a major driver of Figma's quest for transformation and sustainability, but it also brings some risks to Figma. As for whether the AI+ design story will be recognized by the market, Figma may have a long way to go.