Figma (FIG) priced its hot IPO at $33.00 – $1.00 above the top of its recently increased price range – and sold 36.94 million shares – the number of shares in the prospectus – to raise $1.22 billion on Wednesday night, July 30, 2025. In its New York Stock Exchange debut, Figma (FIG) jumped to $85 – opening at around 2 p.m. EDT – for a gain of 157.56 percent on Thursday, July 31st. (Editor’s Note: This column, initially posted Wednesday night, was updated Thursday with news on Figma’s NYSE debut.)
Morgan Stanley, Goldman Sachs, Allen & Company and J.P. Morgan were the lead joint book-runners. The joint book-running team included BofA Securities, Wells Fargo Securities and RBC Capital Markets.
At pricing, Figma had a market cap of about $16.1 billion. Including dilution, RSUs and the CEO’s pay package, that market cap was pegged at about $19.3 billion – before Figma’s NYSE debut.
Jim Cramer of “Mad Money” fame on CNBC – not known for being shy – said last night that he was hesitant to recommend Figma after its IPO because it could get expensive.
Figma is on the CNBC 2025 Disruptor List.
Based in San Francisco, Figma is known for its design software offered on a collaborative platform that’s made it popular with companies that are household names.
““Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb,” Figma said in the prospectus.
Figma is not profitable, according to the prospectus. Figma reported a net loss of $673.7 million on revenue of $820.98 million for the 12 months that ended March 31, 2025.
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