Figma Inc. surged more than 250% on its first day of trading Thursday, marking one of the most explosive public debuts in recent memory and fueling optimism that the technology IPO market is firmly rebounding in 2025.
After pricing its initial public offering at $33 per share-above an already raised range of $30 to $32-the web-based design collaboration platform opened on the New York Stock Exchange at $85 under the ticker symbol "FIG" and closed at $115.50. The closing price valued Figma at nearly $68 billion. Shares were halted multiple times during the session due to volatility.
The company raised $1.2 billion through the sale of nearly 37 million shares, including 12.47 million offered by the company and 24.46 million sold by existing investors. The majority of proceeds went to early backers such as Greylock Partners, Index Ventures, Kleiner Perkins, and Sequoia Capital.
Led by 33-year-old CEO Dylan Field, Figma's IPO comes nearly two years after Adobe's planned $20 billion acquisition of the firm collapsed under regulatory scrutiny in the U.K. and Europe. "The most important thing to remind myself of, the team of, is share price is a moment in time," Field told CNBC's "Squawk Box." He added, "We're going to see all sorts of behavior probably today, over the weeks ahead."
Figma's public listing is the latest in a string of successful tech IPOs this year. Circle and CoreWeave both saw substantial post-IPO gains earlier in 2025, while health-tech firms like Hinge Health and Omada Health have also joined the fray.
The company's financials show strong momentum. In the second quarter, Figma reported revenue between $247 million and $250 million with operating income of up to $12 million. That reflects approximately 40% year-over-year revenue growth. The company serves over 13 million monthly users, with more than 1,000 clients paying $100,000 or more annually, including Google, Microsoft, Netflix, and Uber.
Figma ranks 45th on CNBC's 2025 Disruptor 50 list and has become a staple among major enterprise customers for its browser-based interface that enables real-time collaboration on design documents, app prototypes, and digital whiteboards.
NYSE President Lynn Martin said Thursday's debut could unlock further capital markets activity. "I think this will open the floodgates," Martin told CNBC. "There is so much demand that has persisted still in the order book this morning for this company."
