191–200 of 255 posts
More and more companies are now holding bitcoin in their treasuries (including Figma according to the filling). It's interesting, but it makes a lot of sense.
If the companies are so confident of their trading ability then they should stop their existing business and become trading companies.
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I disagree, many companies are still great even after going public in the last decade: Shopify, Cloudflare, Zoom, Spotify, Roblox, and Coinbase are all notable examples.
To me, an IPO by them at this moment let me think that they know that they are on top of the wave and that it is better to cash-in before growth starts to stale. They got a huge influx of users when image editing AI started to be a thing, I'm not quite sure that they haven't already conquered most of new users that could join them.
A bit off-topic, but I really wish we had a system where we could make bets to pit public companies that develop closed source software against its FOSS alternatives. In the example here: people would bet by either buying $100 worth of Figma shares, or they could buy $50 worth of put options and give $50 to the developers of Penpot. Would something like that be legal or does it violate any type of trading regulations…
I would love to be a reverse—VC
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I was one of their first Enterprise customers way back in 2017’ish-give-or-take. The brilliance of the system he built was that it allowed for real time collaboration. Which was god send from the Sketch -> Zeplin -> Invision -> Avocode (version management) ‘stack’ that lost Enterprise design orgs were using. Which was already a large leap from what Adobe was expecting us to do with Photoshop/Illustrator (after they d…
> It wasn’t lost on us that Sketch is/was much much smoother with its usage of Mac OS’s native shape rendering. It’s just that the benefits far outweighed the small drop in snappiness. yep, even though i personally prefer sketch, if i was running a company i'd most likely go with figma as well because of the collaborative capabilities; its just a huge productivity boost for collaborative teams
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Except it was not a crowded space. They did a bunch of stuff no one else was (or is) doing right from the start. Being entirely in the browser, real-time collaboration, vector networks…
You can define any space as "not crowded" if you narrow it down enough. That was the point really, they entered a crowded space & re-defined it with their offering.
They don't link to the Form S-1 prospectus from their announcement, but it's publicly available at https://www.sec.gov/Archives/edgar/data/1579878/000162828025... Their highlighted metrics page: $821M LTM revenue, 46% YoY revenue growth, 18% non-GAAP operating margin, 91% gross margin. It's an incredible success story, and the engineering they did upfront (primarily led by co-founder Evan Wallace) that set the stage…
As a former figma engineer, let me be the first to say that Evan Wallace is, in fact, a legend. A true 100x-er. There's still parts of the codebase basically no one at Figma really understands that Evan wrote back in the day. One example of that is something like he adapted a shader we use internally to render font glyphs, which no one has touched ever since. The engineer who told me this had spent a few days trying…
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What happened in 2024 that caused their operating expenses to increase so much?
Mostly a 356% increase in R&D: FY Ended December 31, in millions except percentage | 2023 | 2024 | YoY ---------------------------|------|------|------ research and development | $165 | $751 | 356% sales and marketing | $201 | $472 | 134% general and administrative | $168 | $316 | 88% And most of that increase came from a one-time charge from allowing employees to sell their RSUs. While not a cash cost for Figma, it…
> The table above does not reflect our renewed cloud hosting agreement with a third-party provider, entered into on May 31, 2025. Under the terms of the non-cancellable agreement, we committed to purchase a minimum of $545.0 million in cloud hosting services over the next five years. This renewed agreement replaces a previous agreement with the provider. $300k/DAY AWS bill. I wonder what the "non-cancellable" savings…