Core Insights - Figma, a traditional SaaS design platform, successfully went public on the New York Stock Exchange with a valuation of $19.5 billion, raising approximately $1.22 billion by issuing 36.9 million shares at $33 each [1][10] - The IPO was initially priced between $25 and $28 per share but was adjusted upwards due to high demand, ultimately closing at $33, making it one of the hottest IPOs in the U.S. market for 2025 with a subscription oversubscription ratio of nearly 40 times [1][2] - Figma's IPO utilized an auction format, allowing investors to specify the number of shares and price they were willing to pay, differing from traditional IPOs where prices are set by underwriters [2][4] Company Overview - Figma is a leading UI design software company that revolutionizes collaboration in design, allowing real-time editing in browsers, which gained traction during the pandemic [6][7] - The company has over 13 million monthly active users, with a significant portion (approximately 85%) coming from outside the U.S., and it serves 95% of Fortune 500 companies [6][7] - Figma's revenue for 2024 is projected to grow by 48% year-over-year, reaching $749 million, indicating strong financial performance [6] Investment and Market Dynamics - Figma's valuation has seen remarkable growth, increasing from $100 million in 2018 to $10 billion in 2021, reflecting its strategic positioning in the market [8] - The company has attracted significant venture capital support from top firms like Sequoia, A16z, and Greylock, which have contributed to its rapid growth and market presence [8][11] - The overall IPO market is showing signs of recovery, with a notable increase in fundraising activities in 2025, particularly in the tech sector, which is expected to drive further interest in companies like Figma [13][14] Auction IPO Model - The auction IPO model used by Figma allows for a more accurate reflection of market demand and pricing, reducing the likelihood of underpricing that can occur in traditional IPOs [3][4] - This model has historical precedence, with Google being one of the first major companies to adopt it, leading to significant returns for investors [5][4] - Figma's successful implementation of this model may signal a resurgence of interest in auction-style IPOs, especially as the market recovers [2][13]
1400亿，今年最大“拍卖式IPO”诞生
3 6 Ke·2025-08-01 03:27