Design software giant Figma announces IPO: Filings reveal holding nearly $70 million in Bitcoin ETFs

Author: Crumax

Figma, a developer of design software, has officially launched its listing process and will be listed on the New York Stock Exchange under the ticker symbol "FIG".

The S-1 document not only reveals the company's strong operating growth, but also reveals for the first time its financial strategy of holding nearly $70 million in Bitcoin ETF and plans to invest another $30 million in USDC to increase its holdings, which shows its positive attitude towards crypto assets.

Figma Announces IPO: Challenging Adobe's $20 Billion Valuation That Year

A year and a half after the $20 billion acquisition with Adobe, Figma announced yesterday the launch of an IPO in the United States. According to the latest S-1 filing, Figma has not yet disclosed the expected amount of funds raised and the range of valuations, but the market is optimistic that the company is expected to surpass the sky-high price offered by Adobe that year.

Looking back, the key reason for the collapse of the Adobe acquisition is the suspicion of the British and American regulators about the monopoly of competition. Now, Figma has chosen to go public independently, which can be regarded as coming out of the shadow of the breakthrough. The company is valued at about $12.5 billion in the 2024 employee share buyback, and as the AI and IPO markets heat up, investors are expecting it to break that figure after listing.

The revenue performance is outstanding, and the AI increase layout is not soft

Figma's financial performance is also eye-catching, following a loss in 2024, a net income of 44.88 million in the first quarter of 2025; Revenue for the quarter was $228 million, up 46% year-over-year. Full-year 2024 revenue of $749 million, up 48% year-over-year, reflects the strong momentum of its subscription-based business model.

In his investor letter, Figma CEO Dylan Field emphasized: "AI is at the heart of the future design process. We will continue to invest heavily, and although it will reduce efficiency in the short term, it will be an indispensable long-term strategy." This echoes Figma's ambition to appear AI-related words more than 200 times in the document.

Currently, Figma has more than 1,000 corporate clients with annual payments of more than $100,000 and more than 11,000 mid-sized customers with annual payments of more than $10,000. The financial data shows that more than half of its revenue comes from markets outside the United States, and it will continue to continue international expansion and mergers and acquisitions in the future.

Figma is also a Bitcoin fan: owns nearly $70 million in Bitcoin spot ETFs

In addition to its strong operational performance, Figma also has a unique vision of its financial strategy. According to the filing, the company held about $69.53 million worth of bitcoin through the Bitwise Bitcoin ETF (BITB), initially invested $55 million, and has now made a profit of about 26%.

Notably, Figma's Board of Directors authorized the purchase of $30 million in USDC in May this year, allowing it to be flexibly converted into Bitcoin in the future, thereby maintaining financial flexibility. This means that Figma is not viewing Bitcoin as speculation, but rather explicitly incorporating it into its long-term cash and capital management strategy.

This represents about 4% of Figma's current $1.07 billion in cash and marketable securities, indicating its strategic identification with bitcoin and resonating with companies such as MicroStrategy as a representative of startups that see bitcoin as a corporate reserve asset.

The founders continue to steer Figma's direction: aggressive M&A expansion

Dylan Field said that in addition to improving brand visibility and capital momentum, Dylan Field chose to go public now, and hoped to make users and communities part of the company. Through the special voting rights structure, he will retain more than 75% of the company's voting rights, maintain control of the company's direction, and emphasize that he will aggressively expand the company through mergers and acquisitions.

In addition, Figma Ventures, the company's in-house venture capital arm, has also invested in 18 projects, demonstrating its comprehensiveness from product to capital layout. With the official exposure of the prospectus, Figma has also joined the ranks of first-tier new IPOs such as Circle, throwing a shock bomb into the capital financing market in 2025.

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