Figma's IPO: Shares soar, then drop—what's the buzz
Figma, the design software company everyone's been talking about, saw its market capitalization reach about $56.3 billion after its IPO.
Shares were priced at $33 but shot up on debut—closing at $115.50 and briefly pushing Figma's market cap past $56 billion.
The excitement didn't last long though; by Monday, shares dropped to $92.75, trimming the company's value to about $45 billion.
Figma's design platform and client roster
Launched in 2012 and led by CEO Dylan Field, Figma lets teams design together in real time—think of it as Google Docs for designers.
Big names like Alphabet, Microsoft, Netflix, and Uber are among its clients.
Even with recent stock swings, Figma reported impressive revenue growth over the past year.
CEO field's stake and Adobe acquisition attempt
Field sold some shares during the IPO but still controls most voting power through special shares—his stake is now worth nearly $5 billion.
Fun fact: Adobe tried to buy Figma for $20 billion back in 2023 but regulators blocked it; today's valuation shows investors are even more excited about where Figma is headed on its own.
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