Notwithstanding Figma's trajectory towards an initial public offering, it is by no means a foregone conclusion that the customary timeline, typically spanning four to six weeks post-acceptance of confidential submissions, will be adhered to.

Figma, a provider of collaborative design software and web applications, commanded a valuation of $12.5 billion as of May 2024, following a tender offer enabling incumbent shareholders to divest a portion of their holdings; this valuation notably trails the $20 billion acquisition bid by Adobe, which ultimately collapsed in 2023 due to significant regulatory opposition emanating from both European and United States jurisdictions.

The company is undergirded by venture capital behemoths Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins, whose representatives occupy positions on its governing body, alongside a plethora of other notable entities, including Andreessen Horowitz and IVP.

Figma demurred from making any further pronouncements.