The shares opened at $102 compared to the IPO price of $33 per share.
Figma (FIG) shares surged in their Nasdaq debut on Thursday, marking a strong public market entry for the design and collaboration software firm nearly two years after its planned $20 billion acquisition by Adobe (ADBE) was abandoned.
Figma’s stock opened at $102 and rose as much as 200% from its IPO price of $33 per share. The offering raised $19.8 billion for the company by selling 36.9 million shares, just shy of the valuation Adobe had offered in its canceled acquisition and amounting to nearly 12% of the 40-year-old design giant’s current market valuation.
On Stockwits, the newly listed company already had over 6,000 watchers, and retail sentiment rose within ‘extremely bullish’ territory over the past day. It was second-highest trending ticker on the platform at the time of writing.
Led by CEO Dylan Field, Figma enters the public market with a growing revenue base and early profitability, according to its filings with the U.S. Securities and Exchange Commission (SEC). In 2024, the company generated $749 million in revenue, up 48% year-over-year. It reported $228.2 million in revenue and net income of $44.9 million in the first quarter (Q1) of 2025.
Preliminary results for the second quarter (Q2), disclosed ahead of the IPO, show projected operating income of $9 million to $12 million on revenue between $247 million and $250 million. Margins ticked up to between 4% and 5%, compared to 3% a year earlier.
In its filings, Figma also said it had authorized the issuance of “blockchain common stock” in tokenized form, though it said it has no immediate plans to pursue such a structure. It has previously disclosed investments in a stablecoin and a Bitcoin ETF.
Mike Krieger, a co-founder of Instagram who is now the chief product officer of artificial intelligence model developer Anthropic, will be joining the company’s board. Luis von Ahn, co-founder and CEO of Duolingo, will also be joining the board, according to Figma’s filings.
Figma offers cloud-based tools for the collaborative design of websites, apps, and other digital products. Federal regulators blocked Adobe’s $20 billion bid to acquire Figma in 2023. Adobe’s stock has fallen more than 18% in 2025 so far and more than 32% over the past 12 months.
On Stocktwits, retail sentiment around Adobe remained in ‘bearish’ territory over the past day.
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