Figma shares surged 250% in their public debut Thursday, closing at $115.50, more than triple the IPO price of $33, according to Bloomberg. The rally gave the design software firm a market value of $56.3 billion, or over $65 billion on a fully diluted basis. Figma's current valuation far exceeds the $20 billion it would have received in its failed 2023 sale to Adobe. The company designs web and mobile interfaces and has expanded its tools to support software development and workplace collaboration. CEO Dylan Field’s stake is now worth $6 billion, with performance-based shares beginning to vest at a $60 stock average. Figma posted $228 million in first quarter revenue, up 46% year-over-year, and $44.9 million in net income. The company plans to expand its AI capabilities, pursue M&A, and grow adoption beyond designers to developers and office workers.
