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17h ago

Figma Shares More Than Double on NYSE Debut, Valuation Nears $60 Billion

The surge reflects robust investor demand, likely prompting more venture-backed tech companies to pursue public listings.

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Figma throws a block party outside the New York Stock Exchange.

Overview

  • Figma shares opened at $85 on their NYSE debut, more than doubling the $33 IPO price and valuing the company near $60 billion.
  • The IPO raised about $1.2 billion, with Figma and existing shareholders selling 36.9 million Class A shares.
  • Early backers like Index Ventures, Greylock Partners, Kleiner Perkins and Sequoia Capital realized substantial gains through secondary share sales.
  • Figma reported $749 million in revenue for 2024, a 48% year-over-year increase, and counts 13 million monthly active users across over 11,100 enterprise clients.
  • After a blocked $20 billion Adobe acquisition in 2023, Figma’s public valuation nearly matched that figure while its dual-class share structure keeps founders in control.