Morgan Stanley Is Leading IPO for Software Maker Figma (1)

Design software business Figma Inc. hired Morgan Stanley to lead what could be one of the year’s biggest initial public offerings, according to people familiar with the matter.

Figma, backed by Index Ventures and Kleiner Perkins, has also brought on Goldman Sachs Group Inc. and Allen & Co. for the listing, said the people, who asked not to be identified because the information wasn’t public. Figma, which said in April that it had filed confidentially for an IPO, could go public as soon as this year, the people said.

Details including the timing of Figma’s plans could still change, ...