Archive — US — techcrunch
Figma’s Dylan Field will cash out about $60M in IPO, with Index, Kleiner,Greylock, Sequoia all selling, too
Figma plans an IPO allowing existing shareholders to sell nearly 24.7 million shares while only offering 12.5 million. CEO Dylan Field intends to cash out $60M+, keeping 74% voting rights. Major investors like Index and Sequoia will also sell shares, responding to demand in a liquidity-starved market. The IPO, likely to exceed $1.5 billion, could be the largest of 2025.
Key points
- Figma's IPO allows existing shareholders to sell 24.7 million shares while only offering 12.5 million.
- CEO Dylan Field plans to sell 2.35 million shares for over $62 million while retaining 74% voting control.
- Major investors (Index, Greylock, Kleiner Perkins, Sequoia) are selling shares to return cash while keeping most of their holdings.
- The IPO pricing may exceed the anticipated range, potentially making it the largest IPO of 2025.
Why it matters
- The IPO reflects the current trend of companies allowing existing shareholders to sell shares to meet high market demand.
- Historically, tech IPOs often generate significant liquidity for investors; Figma’s approach caters to this trend.
- As tech companies seek to maximize valuations, IPOs like Figma's may set precedents for others considering public offerings.
Figma's IPO strategy reveals a significant shift in how tech companies approach public offerings, emphasizing shareholder liquidity while potentially leading the market in 2025.