Core Insights - Figma's IPO is generating significant wealth for its CEO Dylan Field and is expected to benefit the Marin Community Foundation, which sold shares during the IPO [1][2] Group 1: Figma's IPO Impact - The Marin Community Foundation sold 13.4 million Figma shares at $33 each, generating approximately $440 million [2] - If the foundation had retained the shares, their value would have surged to $1.4 billion, as Figma's stock price more than tripled on its first trading day [2] Group 2: Marin Community Foundation's Financial Strategy - The shares were gifted to the Marin Community Foundation by Evan Wallace, another cofounder of Figma, in June [2] - The foundation's representative indicated that the proceeds from the sale are likely to be directed into a donor-advised fund, a popular philanthropic structure in Silicon Valley [3] - The MCF Gift Fund allows the organization to manage complex gifts, which are liquidated to create philanthropic capital for donors [5] - As of the end of 2024, the Marin Community Foundation was managing $3.5 billion in assets, a figure expected to increase significantly due to the IPO [5]
Why the Figma IPO turned into a $440 million windfall for a nonprofit