===Figma (FIG) began trading on the NYSE on Thur 31 Jul 25

• In 2022 Adobe  agreed to acquire Figma for $20 billion, but the deal fell apart in 2023 after U.K. regulators said the tie-up would likely harm competition. 
• Led by 33-year-old CEO Dylan Field, Figma makes web-based software that allows people to collaborate on slide decks, digital whiteboards and designs for apps and websites.
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Figma opened at $85 after pricing 36.9 mln share IPO at $33/share; above the $25-28 expected range;

opened for trading with a staggering 158% gain at $85, and then rocketed as high as $116 before shares were immediately halted.

Figma launches in debut as collaborative design software company joins stablecoin company Circle as blockbuster IPOs 

• A successful IPO was widely anticipated for Figma (FIG), but few could have predicted that its 36.9 mln share IPO would price far above expectations ($33 vs. $25-$28 projected range), open for trading with a staggering 158% gain at $85, and then rocket as high as $116 before shares were immediately halted.
• For some quick background on FIG, the company's core business revolves around its cloud-based design platform, which enables real-time collaboration for product design teams, akin to Google Docs for design workflows. Its flagship product, Figma, facilitates user interface and experience design, prototyping, and design system management, while FigJam, launched in 2021, serves as a whiteboard tool for team brainstorming.
• So, why all the excitement? First, the company's financials are quite impressive. For 1Q25, revenue jumped by 46% yr/yr to $228.2 mln, while net income tripled to $44.9 mln, driven by a 91% gross margin. This growth is fueled by FIG's ability to attract high-value enterprise clients (e.g., Netflix, Stripe, ServiceNow), its scalable SaaS model, and product portfolio expansion, including four new AI-focused tools launched in May 2025.
• Also, the IPO market has reawakened, and investors are looking for new high-growth opportunities -- FIG fits the bill. Although the IPO market is healthy, investment banks are still pricing IPOs cautiously. Based on the meteoric open, it's clear that FIG could have priced its IPO at a much higher price, leaving a lot of money on the table. However, companies and their investment bankers are still a little skittish about deals falling flat once they hit the public markets. With Circle's (CRCL) and FIG's huge opening gains, that trend could be changing soon.