Design software startup Figma has filed confidential paperwork for its initial public offering (IPO), generating curiosity about its future. The move comes despite a tumultuous stock market influenced by trade policy fluctuations. Notably, other tech companies like Klarna and StubHub have paused their IPO plans due to recent market conditions. Figma, valued at $12.5 billion, previously attracted an acquisition offer from Adobe that fell through due to regulatory concerns. The company is backed by prominent venture firms including Sequoia Capital and Greylock. Further comments from Figma have not been provided.