The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 9 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Hays: Figma IPO first-day close will exceed Adobe acquisition price
“Now Figma is going to IPO. And I would be shocked if they end the first trading day below the price that Adobe was going to pay.”
Field: Figma generated $304 million in Q4 2025 revenue
“We did 304, three hundred and four million in revenue.”
Coogan: Figma Announced 70% WAU Growth and 40% YoY Revenue Growth
“Figma just announced 70% growth in weekly active users, 40% year-over-year revenue growth.”
Reed: Figma S-1 reports 13M MAUs, two-thirds non-designers
“In the S one we reported, I think, thirteen million monthly active users, two thirds of which are not designers.”
Hays: Figma IPO Generated Historic Fund Multiples for Index, Greylock, KP, Sequoia
“The fund multiple is 18 X. Greylock, who did the series A is sitting on an 11 X fund. They did the series A out of a six hundred million dollar fund. KP, which did the series B is sitting on a 10 X fund out of a seven hundred million dollar fund, which is just…”
Coogan: Figma reaches around 70% on the Rule of 40 metric
“And if you add Figma's up there, they're in the 70%. So well beyond 40, 40% according to the rule of 40”
Secondary Liquidity for Seven Private Startups Surpassed All 2023-2024 Tech IPOs
“There was more money flowing into secondaries. For Figma, Rippling, Canva, Revolut, CoreWeave, Databricks, and Stripe, then all of the tech IPOs in twenty-twenty-three to twenty-twenty-four.”