Popular Design Company Applies For IPO, Filing Shows $70M in BTC ETF Holdings
2025-07-02 23:52:01
Main Idea
Figma, a cloud-based design platform, has filed for an IPO in 2025 and holds significant cryptocurrency assets, including Bitcoin and USDC, while continuing to thrive after a failed acquisition by Adobe.
Key Points
1. Figma purchased $30M in USDC for future Bitcoin buys and is preparing for a highly anticipated IPO in 2025.
2. Founded in 2012, Figma raised $129M in funding from 2015 to 2021, reaching a $10B valuation, with $749M revenue by the end of 2024 (48% YoY growth).
3. Adobe attempted to acquire Figma in 2022 but the deal fell through, resulting in a $1B reverse breakup fee paid to Figma.
4. Figma works with major clients like ServiceNow, Netflix, Airbnb, Stripe, and AWS, serving both large studios and small businesses.
5. Public and private companies collectively hold 5.7% of Bitcoin's circulating supply, while ETFs and funds hold around 7%.
Description
Apart from the substantial inventory in the leading cryptocurrency, the document also shows that the company purchased $30M in USDC, which it intends to use for future Bitcoin buys. The market expects this to be yet another highly anticipated IPO for 2025, after a failed acquisition by Adobe a few years ago. Cloud-Based Platform With Plans To Go Public Founded in 2012 by a computer scientist and graphics designer, the San Francisco-based company has filed for a public offering with the ticker “F...
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