Figma Hits $68 Billion Valuation After 250 IPO Debut Surge

Dylan Field, the 33-year-old cofounder of design software company Figma, has led the company to a $68 billion valuation following its blockbuster IPO on the New York Stock Exchange [1]. Figma’s stock surged 250% on its debut, marking the largest first-day pop for a billion-dollar tech IPO and signaling a potential revival in the tech IPO market [1]. The company’s public offering came four years after Adobe made a failed $20 billion bid to acquire Figma in 2022 [1].

Field and cofounder Evan Wallace, then a Brown University teaching assistant, began developing Figma in 2012. Inspired by the potential of browser-based technologies, the duo aimed to democratize design software. Field’s early recognition of opportunity was evident when he accepted Peter Thiel’s $100,000 fellowship in 2012, allowing him to drop out of college and commit fully to the venture [1]. This funding, alongside early support from Index Ventures partner Danny Rimer and others, provided the capital and confidence needed to pursue their vision [1].

Field’s background was marked by early technological curiosity; by age three, he was already using a computer, and by his teenage years, he was deeply engaged in robotics. Before committing to Figma, he held internships at Microsoft, LinkedIn, and Flipboard, experiences that helped shape his entrepreneurial mindset [1]. Rimer described Field in 2023 as a young visionary with a clear ambition to transform design tools, despite the long development timeline they anticipated [1].

After years of development, Figma publicly launched in September 2016 and reached a $10 billion valuation by 2021. The Adobe acquisition attempt, which failed due to regulatory concerns, underscored the company’s growing influence but also highlighted the challenges of large-scale tech deals [1]. Following the collapse of the deal, Figma continued to expand, reporting $749 million in revenue in 2024—a 48% increase from the previous year—and achieving 46% year-over-year growth in the first quarter of 2025 [1]. The company also reported 13 million monthly active users, with 95% of Fortune 500 companies using its platform [1].

Field has consistently emphasized a long-term vision, stating after the IPO that “this is just the start” and that “Figma’s most innovative days are ahead.” His journey from a LinkedIn intern to the leader of a Wall Street darling demonstrates the potential of venture-backed innovation and the role of early-stage investors in shaping the future of technology [1].

Source: [1] Fortune, (https://fortune.com/2025/08/01/figma-ipo-cofounder-dylan-field-former-linkedin-intern-peter-thiel-fellowship/)