Design software company Figma went public on Thursday, soaring by more than 200% within hours of its market debut. The company now trades on the New York Stock Exchange under the ticker ‘FIG’.
Created in 2012, Figma’s design toolkit has been used by aspiring design professionals across the globe and by companies such as Uber, Netflix, Google, and Microsoft.
Initially, the firm targeted a price range of $25 to $28 per share, but increased it later to $30 to $32 per share, pushing its valuation to $18.8 billion as per a Reuters report. Finally, Figma settled for a dollar more, announcing its intent to list on the NYSE at a price of $33 per share.
Figma shares picked up by institutional investors
36.9 million shares of Class A Common Stock were put out for sale and $1.2 billion was raised prior to the first day of trading, with the largest institutional investors being Index Ventures, Greylock, Kleiner Perkins, and Sequoia Capital, according to CNBC.
Market reception to the IPO marks a departure from the frosty sentiment amongst investors after Trump announced tariffs in April, causing many tech and crypto firms to postpone the date of their IPOs to avoid a poor debut.
The company’s prospectus summary states that total revenues for 2024 were $749 million, up by 48% on a y-o-y basis from 2023. Unaudited figures for Q1 2025 revealed revenues of $228.2 million and a net income of $44.9 million, along with investments in Bitcoin ETFs valued at $69.5 million.
Source: Yahoo Finance
At the time of reporting, its shares were priced at $123.49, up by 276.02%