Figma Soars 250% in IPO Debut, Valuation Tops $45 Billion

Figma’s (FIG) stock skyrocketed more than 250% on its first trading day Thursday, closing above $117 per share after pricing its IPO at $33. The design software company opened at $85 at 2:00 p.m. ET, with shares halted multiple times due to volatility. By market close, Figma’s valuation surpassed $45 billion.

The blockbuster debut underscores strong demand for new tech offerings. Figma raised $1.2 billion by selling 36.94 million shares—exceeding its expected $30-$32 pricing range. CEO Dylan Field’s company joins a wave of successful 2025 IPOs, including Circle (CRCL) and CoreWeave (CRWV), whose shares have surged 510% and 160%, respectively, since their debuts.

Figma’s public listing follows its failed $20 billion acquisition by Adobe (ADBE) in 2023, which was blocked by antitrust regulators. The company, whose revenue grew 46% year-over-year, counts over 75% of Forbes Global 2000 firms as customers.

The IPO market has rebounded after an April slowdown, with the Renaissance IPO Index rallying 20% in Q2—outpacing the S&P 500 (+11%). Figma’s success signals renewed investor appetite for high-growth tech stocks.