Figma Inc (NYSE:FIG) shares soared more than 250% on their New York Stock Exchange debut, closing at $115.50 after pricing its initial public offering at $33 per share.
The design software company’s first trade at $85 valued it at roughly $50 billion, and the day ended with a market capitalisation close to $68 billion. The sharp rise marks a notable revival for tech listings after a long slowdown since 2022.
Founded in 2012 and led by chief executive Dylan Field, Figma provides cloud-based tools for collaborative design, with clients including Google, Microsoft, Netflix and Uber.
The company has over 13 million monthly users and reported revenue of around $250 million for the second quarter, growing at 40% year on year.
A planned $20 billion sale to Adobe Inc (NASDAQ:ADBE) collapsed last year following regulatory intervention. The IPO raised $1.2 billion, mostly for existing shareholders. NYSE president Lynn Martin said Figma’s strong debut could spark further tech listings.