Figma IPO Surges Threefold in Debut, Hits $46 Billion Market Cap

Figma’s public debut on July 31, 2025, marked one of the most impressive initial public offerings in the tech industry this year. The design software company’s shares surged more than threefold on the New York Stock Exchange, opening at $85 per share and briefly trading as high as $107. The IPO priced at $33 per share, allowing the company and its early investors to raise $1.2 billion. This staggering performance gave Figma a market capitalization of around $46 billion, far surpassing the $20 billion acquisition price Adobe had previously sought in 2023 before the deal collapsed due to regulatory concerns [1].

The success of Figma’s IPO reflects broader optimism in the venture-backed tech IPO landscape. After a relatively muted period in recent years, the market has seen a slow but steady recovery, with companies like Circle, Chime, and Hinge Health recently making their public market debuts. Figma’s rapid rise suggests that investor appetite for high-growth, innovation-driven tech companies remains strong [1].

The company’s financials also painted a picture of a rapidly growing and profitable business. For Q1 2025, Figma reported revenue of $228.2 million, a 46% year-over-year increase, alongside a net income of $44.8 million [1]. CFO Praveer Melwani indicated that the company would continue to focus on its core operations while keeping acquisitions on the table [1].

Figma’s soaring market cap positions it as a major competitor to Adobe, which has a market capitalization of approximately $152 billion. The rivalry is likely to intensify as Figma seeks to capture more market share in the design software space [1].

The IPO’s strong performance has implications beyond Figma. It signals a renewed confidence in tech startups going public and suggests that the IPO market is slowly regaining momentum. However, the broader market still has a heavy schedule of upcoming earnings reports, with Palantir, AMD, Snap, and others set to report in the coming days [1].

In the same week, Apple reported record quarterly revenue of $94 billion, exceeding Wall Street expectations. The iPhone business remained a core growth driver, with sales reaching $44.6 billion. The company’s Services segment also hit a new high of $27.4 billion in revenue [1]. Meanwhile, Amazon, led by CEO Andy Jassy, emphasized its embrace of artificial intelligence as a transformative force, despite concerns about its impact on jobs and retail operations [1].

[1] Source: [1] What Figma’s debut says about the tech IPO landscape (https://fortune.com/2025/08/01/figma-fig-ipo-tech-earnings-apple-revenue-record-amazon/)