Cloud-based design tools company Figma said Thursday it will allow investors, including current and former employees, to sell stock in a tender offer that values the company at $12.5 billion.
That’s a 25% increase from the valuation the company was valued at when it raised capital in 2021, but below the proposed $20 billion takeover. adobe Created in 2022. adobe Figma then called off a planned acquisition in December following regulatory scrutiny.
The San Francisco-based startup expects the bid size to be between $600 million and $900 million, with support from more than 25 existing and new investors. A16z, Sequoia and Kleiner Perkins are participating in this offer.
Figma is used by tens of thousands of employees across the company microsoftspends millions of dollars a year on its deployment. Google, oracle and sales force We also use the company’s software.
In June 2021, at the height of megafinance, Figma was valued at $10 billion. funding round Morgan Stanley’s Counterpoint Global also participated. That was before the 2022 market crash saw many cloud stocks drop by more than half and pre-IPO rounds were all but halted.
Adobe initially said the acquisition of Figma was a natural complement to its portfolio, with an initial statement noting that “the combination of Adobe and Figma ushered in a new era of co-creation.” In a regulatory filing in December, Adobe said it would pay Figma a $1 billion breakup fee.
CNBC’s Jordan Nobe contributed to this report.