In 2022, I shared that Figma was being acquired by Adobe for $20 billion (see here). A year later, the acquisition was called off because regulators wouldn’t approve the deal (see here), but it wasn’t all bad for Figma—it walked away with a $1 billion breakup fee for its troubles. Well, Figma is back in the news. According to Bloomberg, Figma is targeting an IPO this summer (see here).

Bloomberg says that Figma generated $821 million in revenue for the 12 months ending March 31 (a 49% growth rate) and is cash-flow positive. I haven’t confirmed these figures, but if they’re true, those would be amazing metrics. The devil is always in the details, and many times people don’t really understand a company’s financials, so I want to investigate for myself. I found a copy of Figma’s SEC S-1 registration statement (see here). I’m looking forward to digging into it to understand this company better, given that I know many entrepreneurs who love its product.