Figma Makes a Huge Splash In IPO

Design startup Figma appeared to face an uncertain future in early 2024, after a $20 billion takeover by Adobe collapsed.

Figma closed its first trading day at $115.50 per share—more than triple its IPO price.

The fallout led co-founder and CEO Dylan Field to slash the company’s internal valuation and offer employees a voluntary exit package. Just 18 months later, that tough decision has paid off, Forbes Daily reported.

Figma went public last week, closing its first trading day at $115.50 per share—more than triple its IPO price.

The blockbuster debut pushed Field’s net worth to an estimated $6.4 billion and made co-founder Evan Wallace a billionaire.

Meanwhile, AI-enabled “vibe coding” tools are gaining popularity among software developers.

However, some tools—like Cursor—have sparked frustration with their unpredictable pricing plans. In response, open-source toolmaker Cline recently announced a $27 million funding round aimed at improving transparency in AI billing and services.