Jordan Novet, CNBC:

Figma’s stock more than tripled in its New York Stock Exchange debut on Thursday, a day after the design software company sold shares at $33 in its initial public offering.

Figma’s first trade at $85 valued the company at about $50 billion. The stock, trading under ticker symbol FIG, was halted after it soared past $112, before closing at $115.50 for a 250% gain. The company ended the day with a market cap of almost $68 billion.

I don’t often lust after company IPOs, but Figma is one I would have loved to get in on—not because I use Figma (I don’t), but because so many designers I know and respect love it.

Adobe’s plan to acquire Figma in 2022 for $20 billion fell through in the face of tough regulatory scrutiny. Figma got a $1 billion breakup fee that I’m sure softened the blow at the time, but today’s massive IPO no doubt makes up for any hard feelings.

Back to Novet at CNBC:

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

Count Apple as a customer, too. Just a couple of weeks ago, they released an iOS 26 and iPadOS 26 design kit (or “UI Kit” in Apple parlance)—one of several design kits and icon templates created for Figma since iOS 17.

Oh… I didn’t get in on the IPO, of course—that’s reserved for the rich-and-well-connected crowd. And I have no plans to buy Figma at its post-pop price—way too rich for my blood. I’ll chill on the sidelines until the froth subsides.

(I’m Waiting for Go-down.)