Former Federal Trade Commission (FTC) chair Lina Khan is celebrating Figma’s successful IPO, valuing the design company at nearly $68 billion. Khan nodded to the larger movement to block major tech mergers, including her own efforts to prevent Adobe’s planned acquisition of Figma in 2023.
The IPO comes after regulatory pressure forced Adobe to drop its $20 billion bid for Figma in December 2023. Khan drew criticism from Silicon Valley for her aggressive antitrust enforcement, particularly in the Big Tech industry.
Figma’s CEO and investors are taking the company’s success as a victory for independent growth over acquisitions. “A great reminder that letting startups grow into independently successful businesses can generate enormous value,” said Khan. “This is a win for employees, investors, innovation, and the public.”
Analysts have mixed views on the IPO outcome. Dan Ives, a tech analyst at Wedbush Securities, attributes Figma’s success to its innovative growth, while Louis Lehot, a Silicon Valley-based partner, notes that the company’s independent scaling may have missed out on potential value through an acquisition with Adobe.
Source: https://www.businessinsider.com/lina-kahn-victory-lap-figma-ipo-after-fighting-adobe-merger-2025-8