Figma's IPO breaks records with an explosive first-day surge, elevating its market cap to $67B and redefining tech valuations.
Figma Inc. (NYSE: FIG) delivered one of the most explosive IPOs of the year, with its stock opening at $85 and skyrocketing past $100 within minutes—briefly freezing trading for volatility controls—and sending its midday market capitalization soaring to $45 billion.
Unprecedented First-Day Surge
Figma priced its shares at $33 in an offering that raised approximately $1.22 billion from the sale of around 36.9 million shares, of which roughly $411.7 million went to the company and $807.3 million to early investors and insiders. The IPO was oversubscribed nearly 40×, a sign of intense investor appetite going into the listing.
Shares more than tripled on the first trading day—up as much as 158% to close at $115.50—marking the fastest and largest gain among U.S. companies raising more than $1 billion in decades. By the close, the company was valued at approximately $67.6 billion based on outstanding shares—more than triple its IPO valuation of $19.3 billion.
From $19B IPO Valuation to $45–68B by Close
At the IPO price of $33, Figma was initially valued at about $19.3 billion—a modest premium over Adobe’s failed $20 billion acquisition bid in late 2023. However, by midday trading, the market cap surged to $45 billion; by market close, soaring share prices pushed the valuation toward $67–68 billion.
Strategic Context: Demand, Legacy, and AI Momentum
The IPO capped a dramatic turnaround for Figma following Adobe’s abandoned acquisition—originally slated at $20 billion before regulatory intervention. Now, public markets have shown greater confidence:
“Fast‑growing software IPOs have been extremely rare during the past three years… deals like this tend to get a lot of attention,” said Matt Kennedy, senior strategist at Renaissance Capital.
PitchBook analyst Derek Hernandez called Figma a “generations‑defining SaaS company” with near‑monopoly presence in product design tools.
According to many experts, Figma’s success sends a very clear message: public markets are back in for fast-growing tech—notably those positioned around collaboration, cloud design, and AI-driven workflows.
