Design software start-up Figma priced its IPO at $33 per share on Wednesday, according to Barron's. The price is above the expected range, raising over $1.2 billion and valuing the company at $19.3 billion. Trading begins Thursday on the New York Stock Exchange under the ticker FIG. Figma scrapped its proposed sale to Adobe last year due to regulatory hurdles but now enters public markets backed by top Silicon Valley firms. Figma’s revenue surged 48% to $749 million in 2024 and rose another 46% in the first quarter of this year. Figma has adopted a Bitcoin investment strategy, which could boost its appeal to investors as crypto prices approach all-time highs. Despite potential IPO gains, analysts warn that generative AI could disrupt Figma’s business model, mirroring challenges faced by Adobe.
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