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After Adobe crumple, Figma deal permits workers to sell shares at $12.5 billion valuation

Dylan Field, co-founder and CEO of Figma, speaks on the startup’s Config conference in San Francisco on May well additionally merely 10, 2022.

Figma

Figma, a cloud-primarily primarily based make instrument company, talked about Thursday it must allow investors, together with fresh and prone workers, to sell their shares in a young provide that values the corporate at $12.5 billion.

That’s up 25% from the valuation at which the corporate fundraised in 2021, however below the $20 billion acquisition provide Adobe made in 2022. Adobe and Figma called off the deliberate acquisition in December following regulatory scrutiny.

The San Francisco-primarily primarily based startup expects the dimensions of the tender to be between $600 million and $900 million, with purple meat up from more than 25 fresh and original investors. A16z, Sequoia and Kleiner Perkins are taking part in the provide.

Figma is prone by tens of hundreds of workers inside Microsoft, which spends hundreds and hundreds per 300 and sixty five days on its deployment. Google, Oracle and Salesforce additionally use the corporate’s machine.

In June 2021, for the duration of the heyday of mega financings, Figma became valued at $10 billion in a funding round that incorporated participation from Morgan Stanley’s Counterpoint Global. That became before the 2022 market fall despatched many cloud shares down by more than half of and largely halted pre-IPO rounds.

Adobe before the whole lot talked about procuring Figma would be a natural complement to the corporate’s portfolio, writing in the conventional announcement that “the combo of Adobe and Figma will usher in a original period of collaborative creativity.” In December, a regulatory filing talked about Adobe would pay Figma a $1 billion breakup payment.

— CNBC’s Jordan Novet contributed to this document.

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