Figma, a company that makes design software, said on Tuesday that it has secretly sent in the documents to become a public company (IPO). We will find out more when these documents are shared with the public, which could happen in about a month if things go well.

However, because the stock market is very unstable right now, reacting badly to changes in government trade policies, trying to launch a public offering (IPO) at this time is surprising, even for research purposes. Two large tech companies, Klarna and StubHub, which were preparing for IPOs last month, stopped their plans in early April after the stock market fell because of news about new taxes on imports. They have not set new dates yet.

Even though Figma is preparing for an IPO, it might not happen as quickly as usual. Normally, it takes about four to six weeks after the private documents are approved.

Figma, a company that creates software for designers to collaborate, was valued at $12.5 billion in May 2024. This happened after a deal allowed people who owned shares to sell some of them. Adobe tried to buy Figma for $20 billion, but the deal did not happen in 2023 because governments in Europe and the US stopped it.

Several investment companies, including Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins, support the company. Some investors from these companies are on the company's board. Many other companies, such as Andreessen Horowitz and IVP, also support them.

Figma chose not to provide any additional remarks.