Figma’s $1.2 Billion IPO Approaching 40 Times Oversubscribed

Figma Inc., a design and collaboration software company, is set to go public with a US initial public offering (IPO) that is approaching 40 times oversubscribed, according to sources familiar with the matter. The company's IPO is expected to be one of the most in-demand listings of the year. Figma's software allows users to collaborate on design projects in real-time, and the company has seen a surge in popularity during the COVID-19 pandemic as remote work has become more prevalent. The company's valuation is expected to be around $1.2 billion, reflecting the strong investor demand for its shares. The oversubscription of the IPO suggests that Figma's offering is generating significant interest from investors, who see the company's growth potential in the design and collaboration software market. The success of the IPO could also signal a continued appetite for technology-focused companies in the public markets.