Figma, a company that makes design software, said on Tuesday that it has given in secret papers to get ready to sell shares to the public. We will find out more when these papers are made public, which could happen in about a month if everything goes well.

However, because the stock market is unstable due to the Trump administration's trade policies and taxes, trying to have an IPO now is surprising, even just thinking about it. Klarna and StubHub, two big tech companies that were planning IPOs last month, stopped their plans in early April when the stock market dropped because of the news about taxes. They have not yet set new dates.

Even though Figma is preparing for an IPO, it might not happen as quickly as usual. It normally takes four to six weeks after their private documents are accepted.

Figma, a company that creates software for designers to work together, was valued at $12.5 billion in May 2024. This happened after a process where people who owned shares could 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 United States stopped it.

The company gets support from venture capital firms like Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins. People from these firms are also on the company's board. Many other companies, such as Andreessen Horowitz and IVP, also support them.

Figma chose not to provide any additional commentary.