Particle.news
Download on the App Store
8 ARTICLES
·
5h ago

Figma’s $68 Billion IPO Underscores Tech Merger Scrutiny Clash

Former FTC chair Lina Khan hailed the stock’s surge as vindication for tougher antitrust reviews.

Image
WASHINGTON, DC - OCTOBER 4: Federal Trade Commission Chair Lina Khan speaks during a discussion on antitrust reforms at the Brookings Institution October 4, 2023 in Washington, DC. Khan assumed the role of FTC chair in June 2021 after being appointed by U.S. President Joe Biden and confirmed by the Senate. (Photo by Drew Angerer/Getty Images)
Image
Image

Overview

  • Figma shares closed at $115.50 on July 31, valuing the design platform at nearly $68 billion after its NYSE debut.
  • The IPO raised about $1.2 billion through the sale of 36.9 million Class A shares priced at $33 each.
  • Lina Khan posted on X that the outcome marked a victory for her policy of stricter antitrust scrutiny in big tech mergers.
  • Analysts including Dan Ives contend that Figma’s rapid growth, collaborative tools and emerging AI features were the primary drivers of its record valuation.
  • The market debut has reignited debate over whether regulatory intervention or organic innovation best fuels value creation in the tech sector.