Figma has announced its initial price range for its highly anticipated IPO ($25-$28) along with an unusual decision to allow existing shareholders to sell more shares than the company plans to sell. The company plans to offer 12.5 million shares, but existing shareholders can cash out nearly 24.7 million shares.
Existing shareholders will also have the option to sell collectively up to 5.5 million more shares if the IPO is successful. Figma founder and CEO Dylan Field plans to sell 2.35 million shares, which could result in a significant gain of over $62 million.
Even after this sale, Field will still own a substantial amount of shares and maintain control over the company, with 74% of voting rights. This is due to his ownership of supervoting rights for Class B stock and the right to vote the shares of co-founder Evan Wallace.
Several major venture investors are also cashing out some shares, including Index, Greylock, Kleiner Perkins, and Sequoia. If demand for the IPO is strong, they will sell 1.7 million to 3.3 million shares each. However, it’s worth noting that these investors are retaining a significant portion of their Figma holdings.
The company’s decision to offer more shares to existing investors may have been necessary to meet demand for the IPO. The sale could potentially raise over $1.5 billion in stock sales if priced above the announced range. With an expected IPO next week, Figma declined further comment on its plans.
Source: https://techcrunch.com/2025/07/21/figmas-dylan-field-will-cash-out-about-60m-in-ipo-with-index-kleiner-greylock-sequoia-all-selling-too