Figma will start buying and selling on the New York Inventory Alternate on Thursday in one of the vital anticipated IPOs of 2025. The IPO is 40-times oversubscribed, VCs confirmed to TechCrunch and Bloomberg beforehand reported.
Which means demand for shares is 40 occasions the variety of shares the corporate and its current buyers are promoting. So it ought to shock nobody that Figma, which provides design software program, has priced its preliminary shares at $33 per share, above its beforehand introduced vary.
On Monday, the corporate stated its anticipated worth vary was $30 to $32, up from a beforehand introduced vary of $25 to $28. On the remaining $33 worth, the providing raised $1.2 billion. Most of that cash goes to current shareholders who’re promoting about twice as many shares (together with founder and CEO Dylan Subject) as the corporate itself has supplied.
The IPO worth values Figma at $19.3 billion, CNBC experiences, close to the $20 billion worth Adobe would have paid earlier than its deal to purchase Figma fell aside in 2023 beneath stress from regulators.