Figma stock rises 19% in premarket trade Friday, poised to build on Thursday's 250% rally
The design software company priced its IPO at $33 per share late Wednesday, and the stock did not begin trading until nearly 2:00 p.m. ET on Thursday. Shares opened for trade at $85 and were halted more than once Thursday afternoon due to volatility as traders rushed into the name amid what's become a frenzied IPO market for new tech issues.
Figma's IPO price gave the company a market value near $20 billion; ahead of Friday's open, the company was worth more than $50 billion.
Figma's IPO price came in above estimates of $30-$32 per share, signaling bullish investor interest in the company. As part of the offering, Figma raised about $1.2 billion in a sale of 36.94 million shares, split between the company's sale of 12.47 million shares and existing shareholders' sale of 24.46 million shares.
The company's current valuation has made it worth more than double the $20 billion price tag for which software giant Adobe (ADBE) had tried to acquire Figma in 2023 before having to cancel the deal after anti-competition pushback from European regulators.
This year saw rapid growth for Figma, led by 33-year-old CEO Dylan Fields, as the design software and collaboration toolmaker reported revenue growth of over 46% year over year, according to securities filings. The company noted that more than 75% of the Forbes 2000 companies use its software.
The IPO was one of the most successful of the year, beating out the performance of previous 2025 IPO darling Circle Internet Group (CRCL), which popped by 168% in its first day of trading in June. Circle is up more than 490% since its IPO. AI play CoreWeave (CRWV) has also seen its shares rise more than 190% since a debut in March.
The success of Figma's offering is the latest sign that the year of dealmaking called for by Wall Street may finally be here after a first half that saw M&A stymied by tariff uncertainty and a market downturn.
Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com.
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