Figma will begin trading on the New York Stock Exchange on Thursday in one of the most anticipated IPOs of 2025. The IPO is 40 times oversubscribed, as confirmed by venture capitalists to multiple sources. This means demand for shares is 40 times higher than the number of shares the company and its existing investors are selling.
Given the overwhelming interest, it comes as no surprise that Figma, a leading design software company, has priced its initial shares at $33 each. This exceeds its previously announced range. Earlier this week, the company had updated its expected price range to $30 to $32, up from an initial range of $25 to $28.
At the final price of $33 per share, the offering raised $1.2 billion. Most of these proceeds will go to existing shareholders, who are selling approximately twice as many shares as the company itself. This includes founder and CEO Dylan Field, who is among those cashing out.
The IPO price values Figma at $19.3 billion, close to the $20 billion valuation Adobe had offered before its acquisition deal collapsed in 2023 due to regulatory pressure.