Figma’s IPO price hit a $19.3B valuation out of the gate

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, VCs confirmed to TechCrunch and Bloomberg previously reported.

That means demand for shares is 40 times the number of shares the company and its existing investors are selling. So it should surprise no one that Figma, which offers design software, has priced its initial shares at $33 per share, above its previously announced range.

On Monday, the company said its expected price range was $30 to $32, up from a previously announced range of $25 to $28. At the final $33 price, the offering raised $1.2 billion. Most of that money is going to existing shareholders who are selling about twice as many shares (including founder and CEO Dylan Field), as the company itself has offered.

The IPO price values Figma at $19.3 billion, CNBC reports, near the $20 billion price Adobe would have paid before its deal to buy Figma fell apart in 2023 under pressure from regulators.