Figma more than triples in NYSE debut after selling shares at $33

Figma's stock experienced a remarkable surge in its debut on the New York Stock Exchange, skyrocketing more than threefold after the design software company priced its initial public offering (IPO) shares at $33. This impressive opening is seen as a strong sign of revitalization in the tech IPO market, which has faced challenges since early 2022 due to rising inflation and interest rates. With an initial trading price of $85, Figma's valuation hit approximately $50 billion. The stock, listed under the ticker symbol FIG, was temporarily halted after it surged past $112. This event follows Adobe's planned acquisition of Figma for $20 billion in 2022, a deal that fell through in 2023 due to concerns from U.K. regulators over competitive impacts. Dylan Field, the 33-year-old CEO of Figma, emphasized the importance of maintaining focus amid the market fluctuations. In an interview with CNBC, he reiterated the company's commitment to its mission and customer satisfaction, stating that share prices represent just a snapshot in time. Based on the opening value, Field's stake in the company is now estimated to be worth over $4.5 billion. Figma serves over 13 million monthly users, with a significant portion being non-designers. As of March 31, more than 1,000 clients were contributing over $100,000 annually to the platform, which counts major companies like Google, Microsoft, Netflix, and Uber among its clientele. In its preliminary earnings report for the second quarter, Figma projected an operating income between $9 million and $12 million, with revenues expected to reach $247 million to $250 million, reflecting a year-over-year growth of around 40%. After initially setting a share price between $25 and $28, the company revised it to $30 to $32 before finalizing at $33, raising $1.2 billion, primarily benefitting existing shareholders including prominent venture capital firms. Founded in 2012 and headquartered in San Francisco, Figma was listed 45th on CNBC's 2025 Disruptor 50 list of private companies. Lynn Martin, president of the NYSE, expressed optimism about future offerings, suggesting that Figma's successful pricing could lead to a wave of new deals in the tech sector.