Figma more than triples in NYSE debut after selling shares at $33

Figma's banal much than tripled successful its New York Stock Exchange debut connected Thursday, a time aft the plan bundle institution sold shares astatine $33 successful its archetypal nationalist offering.

The large opening popular is the latest denotation that the tech IPO marketplace has reopened pursuing a multiyear lull that began successful aboriginal 2022, erstwhile ostentation was soaring and involvement rates were connected the rise. So acold this year, online slope Chime, stablecoin issuer Circle and artificial quality infrastructure supplier CoreWeave person deed the market, on with health-tech companies Hinge Health and Omada Health.

Figma's archetypal commercialized astatine $85 valued the institution astatine astir $50 billion. The stock, trading nether ticker awesome FIG, was halted aft it soared past $112, earlier closing astatine $115.50 for a 250% gain. The institution ended the time with a marketplace headdress of astir $68 billion.

In 2022, Adobe agreed to get Figma for $20 billion, but the deal fell apart successful 2023 aft U.K. regulators said the tie-up would apt harm competition. Led by 33-year-old CEO Dylan Field, Figma makes web-based bundle that allows radical to collaborate connected descent decks, integer whiteboards and designs for apps and websites.

Field told CNBC's "Squawk Box" connected Thursday that careless of what happens with the marketplace debut, the institution has to "stay focused, enactment connected mission, perceive to our customers and truly support our priorities successful mind."

"The astir important happening to punctual myself of, the squad of, is stock terms is simply a infinitesimal successful time," said Field, whose involvement successful the institution is worthy implicit $6 cardinal based connected Thursday's closing price. "We're going to spot each sorts of behaviour astir apt today, implicit the weeks ahead."

Figma boasts much than 13 cardinal monthly users, two-thirds of whom are not designers. As of March 31, much than 1,000 clients were paying Figma upward of $100,000 annually, according to the prospectus. Google, Microsoft, Netflix and Uber are each customers.

In its filing of preliminary results for the 2nd quarter, Figma said it generated $9 cardinal to $12 cardinal successful operating income connected $247 cardinal to $250 cardinal successful revenue, with income increasing astir 40% twelvemonth implicit year.

Last week, Figma said successful a filing that it would terms shares astatine $25 to $28 each. On Monday it issued different update, calling for a scope betwixt $30 and $32, earlier yet pricing $1 supra that range.

The offering raised $1.2 billion, with astir of the proceeds going to existing shareholders, including task superior firms Greylock Partners, Index Ventures, Kleiner Perkins and Sequoia Capital.

Founded successful 2012 and based successful San Francisco, Figma ranked 45th connected CNBC's 2025 Disruptor 50 list of backstage companies.

Lynn Martin, president of the NYSE, told CNBC's "Squawk connected the Street" connected Thursday that plentifulness much deals should beryllium connected the way.

"I deliberation fixed that Figma did truthful good with their pricing past night, and determination is truthful overmuch request that has persisted inactive successful the bid publication this greeting for this company, I deliberation this volition unfastened the floodgates," Martin said.