Figma, a San Francisco-based design platform provider, made a stunning comeback on its first day of trading after regulators quashed its $20 billion sale to Adobe three years ago. The company went public on the New York Stock Exchange with shares closing at $115.50, three and a half times its initial public offering price. Figma’s stock surged 250 percent, far above typical mid-teens percentage rise for new listings.
The company’s co-founder and CEO Dylan Field, now a tech billionaire worth over $6 billion, rang the opening bell, expressing excitement about the future and plans to build on Figma’s growth. The IPO marked one of the biggest public offerings this year, following a years-long lull in market activity.
Figma was founded in 2012 by Field and Evan Wallace, who met while studying computer science at Brown University. The company provides online software that allows designers, developers, and others to collaborate on projects in real time. Netflix, Duolingo, and Uber are among the companies using Figma’s products for their websites and mobile applications.
The company raised about $333 million in funding from top venture capital firms Index Ventures, Greylock Partners, and Kleiner Perkins. Its biggest investors include these firms, as well as Kleiner Perkins. In 2021, Wallace left the company, but Field retained a significant stake and controls about 74 percent of the vote.
Figma’s stock market debut is seen as a positive sign for other start-ups considering an IPO, with Renaissance Capital’s director Nick Einhorn calling it “a very positive sign.” For investors, Figma’s offering is encouraging, according to Einhorn.
Source: https://www.nytimes.com/2025/07/31/technology/figma-ipo.html