Figma, Inc.

Figma CEO Dylan Field Set to Cash Out $60M in IPO; Index, Kleiner, Greylock, Sequoia Selling Stakes Too

July 21, 2025 - As Figma announced its initial IPO price range of $25-$28 on Monday, it also disclosed an unusual move for its highly anticipated public debut.

Existing shareholders will be allowed to sell significantly more shares than the company itself plans to offer. While Figma intends to sell roughly 12.5 million shares, current shareholders are cleared to offload nearly 24.7 million shares, the company revealed.

If demand surges as expected, those shareholders will also have the option to collectively sell an additional 5.5 million shares.

CEO and founder Dylan Field confirmed he plans to sell 2.35 million shares. At the midpoint of the price range, his cashout would exceed $62 million—and even more if the IPO prices above $28. Despite the sale, Field will retain substantial control of Figma, holding 74% of voting power post-IPO thanks to supervoting rights of 15 votes per share on his Class B stock and the ability to vote Class B shares belonging to co-founder Evan Wallace, according to the company’s S-1 filing.

Figma’s major venture backers—including Index Ventures, Greylock Partners, Kleiner Perkins, and Sequoia Capital—are also selling portions of their stakes. Depending on demand for the over-allotment, these firms could each sell between 1.7 million and 3.3 million shares, providing liquidity for their investors in today’s tight venture funding environment.

However, all of these investors will still retain the bulk of their Figma holdings. This large secondary sale suggests that without allowing existing shareholders to participate, Figma may not have had enough shares to satisfy investor appetite.

The company will not benefit financially from shares sold by its stockholders. But if the IPO prices above its stated range—a common occurrence with highly sought-after offerings—both Figma and its shareholders could see higher returns.

Before pricing, analysts estimated Figma would raise approximately $1.5 billion. If it exceeds expectations, this could mark the largest IPO of 2025 so far. The offering could launch as early as next week. Figma declined to provide additional comment.

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/