Design software startup Figma declared on Tuesday that it has submitted confidential documentation for an Initial Public Offering (IPO). Further details will remain undisclosed until this paperwork is made public, which under optimal circumstances, is anticipated within roughly a month.

However, given the stock market's current state of repetitive caution, influenced by the fluctuations in the Trump administration's trade policies and tariffs, the pursuit of an IPO at this time seems unexpected, even as an initial investigation. Klarna and StubHub, two potentially significant tech IPOs that were progressing well last month, both suspended their plans in early April following the stock market decline triggered by tariff news. They have not yet set new dates.

While Figma is preparing for an IPO, this does not necessarily imply it will adhere to the typical timeframe, which is generally between four and six weeks following the acceptance of confidential documentation.

Figma, a provider of collaborative design software and web tools, was recently appraised at $12.5 billion in May 2024 following a tender offer enabling existing shareholders to divest a portion of their holdings. Adobe's proposed $20 billion acquisition of Figma was ultimately unsuccessful in 2023, due to opposition from regulatory bodies in Europe and the United States.

The company gets a lot of support from important venture capital firms like Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins. Some of their investors are on the company's board. Many other groups also support the company, including Andreessen Horowitz and IVP.

Figma opted to refrain from making any additional statements.