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Lina Khan shares success of Figma's IPO

Former FTC chair celebrates Figma's valuation rise during IPO, linking it to antitrust efforts.

August 1, 2025 at 10:53 PM

Lina Kahn is taking a victory lap over the Figma IPO

The former FTC chair highlighted Figma's IPO as a win for independent startups.

Lina Khan celebrates Figma's success after IPO

Figma's recent IPO has drawn attention, particularly from former FTC chair Lina Khan. In a post on X, she reflected on the significance of the event, linking it to her push against major tech mergers. Figma went public with a valuation of $19.3 billion but closed at an impressive $68 billion. This success underscores the value of allowing startups to grow without interference from larger companies. The backdrop includes Adobe's failed $20 billion acquisition attempt less than two years ago, which was thwarted by regulatory scrutiny. Figma's strong market performance serves as a notable counterpoint to concerns about consolidation in the tech industry.

Key Takeaways

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Figma's IPO marked a significant financial milestone for the company.

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Lina Khan views the IPO as proof of the value of independent startups.

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Khan's focus on blocking mergers reflects ongoing antitrust efforts.

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Critics point to lost opportunities from the aborted Adobe acquisition.

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The success of Figma challenges conventional views on mergers benefiting innovation.

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Regulatory pressure continues to shape the landscape for tech firms.

"A great reminder that letting startups grow into independently successful businesses can generate enormous value."

Lina Khan's statement emphasizing the benefits of independent startups after Figma's IPO.

"Figma is a massive success, but it's because of the company's innovative growth and not due to the FTC and Khan."

Dan Ives challenges the narrative that Khan's actions directly influenced Figma's success.

"There's a hint of schadenfreude in celebrating independent success while dismissing the potential upside of the Adobe-Figma merger."

Louis Lehot critiques the oversight of potential benefits from a merger.

Khan's celebration of Figma's IPO resonates within the ongoing discussion about antitrust enforcement and the future of innovation. Her tenure at the FTC was marked by a vigorous stance against tech mergers, especially those perceived to threaten market competition. While Khan claims this IPO as evidence of the benefits of nurturing independent growth, critics argue that the potential synergies of the Adobe-Figma merger were overlooked. This tension highlights a broader debate about the balance between fostering independence in startups and leveraging strategic acquisitions to enhance innovation. As tech companies navigate these dynamics, the aftermath of such IPOs will likely have lasting implications for the industry.