Figma files for IPO after failed $20 billion Adobe takeover

Figma, the cloud-based design platform, has confidentially filed for an initial public offering in the U.S. This move comes after its $20 billion acquisition by Adobe was abandoned due to regulatory concerns. Figma was expected to go public after the Adobe deal was blocked by antitrust regulators. The company was valued at $12.5 billion last year in a secondary market transaction. The U.S. IPO market, despite a resurgence, faces challenges from market volatility and policy uncertainty. Sentiment for IPOs is currently low, causing some tech startups to delay their public offerings. Figma's platform is used by major companies like Adobe and Google for design and collaboration. Co-founded in 2012, Figma offers both free and paid services for digital product design. The company is cash flow positive and has expanded to include AI-powered team collaboration tools.