Dylan Field, co-founder and CEO of Figma, speaks at the startup's Config conference in San Francisco on May 10, 2022. Figma, a cloud-based design tool company, said Thursday it will allow investors, including current and former employees, to sell their shares in a tender offer that values the company at $12.5 billion. That's up 25% from the valuation at which the company fundraised in 2021, but below the $20 billion acquisition offer Adobe made in 2022. Adobe and Figma called off the planned acquisition in December following regulatory scrutiny. In December, a regulatory filing said Adobe would pay Figma a $1 billion breakup fee.

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Persons: Dylan Field, Kleiner Perkins, Salesforce, Figma, Morgan, CNBC's Jordan Novet Organizations: Figma, Adobe, Microsoft, Google, Oracle Locations: San Francisco, Sequoia