Business
Findell Issues Report and Letter to CEO and Board of Directors of Figma
Findell Capital Management LLC, ("Findell Capital" or "Findell"), which beneficially owns shares of common stock of Figma, Inc. (NYSE: FIG) (the "Company" or "Figma"), today issued the following letter to the CEO and Board of Directors of Figma, as well as an accompanying report (see here).
About this update from Figma Inc
[{"type":"text","content":"Believes Figma is Significantly Undervalued","length":43,"tagName":"p","attribs":{}},{"type":"text","content":"Calls for Management to Sharpen Product Focus and Rationalize Costs in Line with Competitors","length":92,"tagName":"p","attribs":{}},{"type":"text","content":"Calls for Board to Examine Relationship with Anthropic Given Launch of Claude Design","length":84,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, May 28, 2026 /PRNewswire/ -- Findell Capital Management LLC, ("Findell Capital" or "Findell"), which beneficially owns shares of common stock of Figma, Inc. (NYSE: FIG) (the "Company" or "Figma"), today issued the following letter to the CEO and Board of Directors of Figma, as well as an accompanying report (see here).","length":375,"tagName":"p"},{"type":"text","content":"Findell believes that Figma has a strong moat that investors will come to appreciate over the coming months. That said, Findell contends that there are several steps that Figma could take today to maximize its shareholder value:","length":228,"tagName":"p"},{"type":"text","content":"1) Enhance focus in the product organization by simplifying its offering2) Rationalize costs so they are in line with peers3) Conduct a governance review of the Board dynamics in light of the Claude Design launch","length":214,"tagName":"p","attribs":{}},{"type":"text","content":"We outline these points in our letter below and in our report (see here).","length":73,"tagName":"p"},{"type":"text","content":"Dear Mr. Field and Members of the Board of Directors:","length":53,"tagName":"p"},{"type":"text","content":"We and our affiliates are shareholders of Figma, Inc. ("Figma" or the "Company"). We have great admiration for the product and the design movement Figma has built and believe that Figma has a true moat, all of which we articulated in a write-up we put out this morning (see here).","length":300,"tagName":"p"},{"type":"text","content":"We write to the Board to respectfully offer ways Figma could further improve its long-term positioning as a publicly traded company:","length":132,"tagName":"p"},{"type":"text","content":"1) Product Positioning and Leadership","length":37,"tagName":"p","attribs":{}},{"type":"text","content":"We believe there is an opportunity to streamline the Figma product...