Figma, the design software company led by CEO and cofounder Dylan Field, saw its stock price more than triple in a stunning debut on the New York Stock Exchange on Thursday.
Shares of Figma were trading as high as $107 within minutes after it began trading under the ticker FIG. The company and its early shareholders raised $1.2 billion in its IPO on Wednesday, with shares priced at $33. The stock began trading Thursday at $85 a share, and took off like a rocket from there.
The surge gave Figma a market cap of roughly $46 billion, eclipsing the $20 billion price that Adobe had planned to acquire it for before the merger was abandoned in 2023 due to regulatory pushback.
It’s a stark opening pop, and encouraging for Figma and the market at large. The venture-backed IPO market has been muted in recent years, and has through 2025 been in the midst of a slow but decisive recovery. Recently, companies like Circle, Chime, Hinge Health, and CoreWeave have all gone public to varying degrees of success.
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