Figma’s Dylan Field will cash out about $60M in IPO, with Index, Kleiner, Greylock, Sequoia all selling, too

Figma, a leading design software company, is preparing for its initial public offering (IPO). As part of the process, the company is allowing existing shareholders to sell a significant portion of their shares, in addition to the shares that Figma itself will offer. According to the article, Figma's co-founder and CEO, Dylan Field, will cash out around $60 million from the IPO. Other major investors, including Index Ventures, Kleiner Perkins, Greylock Partners, and Sequoia Capital, will also be selling some of their shares. The decision to allow existing shareholders to sell more stock than the company itself is not uncommon in IPOs, as it provides an opportunity for early investors and employees to monetize their holdings. However, it also means that a larger portion of the offering will come from secondary sales rather than primary capital raised by the company. The article provides insight into the dynamics and financial interests involved in Figma's upcoming public listing, which is anticipated to be a significant event in the design software industry.