Figma Confidentailly Files For IPO After Adobe Deal Collapses

Figma, a collaborative design software company, has secretly filed for an initial public offering (IPO) with the Securities and Exchange Commission. This follows the collapse of its $20 billion acquisition by Adobe last year due to regulatory concerns. Figma's software is widely used by corporate designers, and the company was recently valued at $12.5 billion. The IPO filing comes amidst a currently sluggish tech IPO market.