Design software company Figma has filed for an IPO, which is expected to raise up to $1.5 billion. Its entry to public markets comes more than a year after the collapse of Adobe’s attempted $20 billion acquisition. The S-1 filing contains key insights about Figma’s growth, customer base, and founder-led strategy.

Less than two years after agreeing with Adobe to call off plans for a megadeal, Figma has filed IPO paperwork and could embrace Wall Street in its own right.

Figma disclosed higher revenue and profit for the first three months of 2025, as the cloud-based designer platform prepares to list on the NYSE more than a year after its $20 billion planned sale to Adobe was scrapped.