Figma is open for trading with the initial price around $85. The price has been halted at $93.50.

Figma’s IPO was priced at $33 per share, raising approximately $1.2 billion and giving the company a valuation of $19.3 billion. This brings it nearly in line with the $20 billion valuation from Adobe’s failed acquisition attempt. There was a near 40:1 oversubscribed offering. The run rate for revenues this year is $1B with thoughts of $1.5B next year.

Figma is a cloud-based design platform that enables real-time collaboration for UI/UX design, prototyping, and developer handoff. Its core tools include Figma Design, FigJam (for whiteboarding and brainstorming), and Dev Mode, which bridges the gap between design and engineering by exposing code-ready elements. The platform is widely used by designers, product teams, and developers to streamline the digital design workflow without the need for software installation

At $85-$90, that puts the market capitalization at around $50-55 billion.That is about 30X next years projected sales.

For comparison:

Public Companies (~$55B–$65B Market Cap)

• Workday (WDAY): A leader in cloud-based human resources and financial software, widely used by enterprises.

• TE Connectivity (TEL): Specializes in electronic components and connectivity solutions with industrial and tech applications.

• CoreWeave (CRWV): A fast-growing cloud infrastructure company focused on GPU-based computing for AI and machine learning.

Private Companies (~$60B–$62B Valuation)

• Databricks: A top enterprise data platform combining cloud analytics, AI, and big data tools used by Fortune 500 companies.

• Anthropic: A major player in generative AI, developing large language models and competing directly with firms like OpenAI.