Figma's stock sinks more than 20% after last week's IPO pop

Figma said in an update IPO prospectus that it expects second-quarter revenue to increase by about 40% from a year earlier. But unlike many technology companies that have gone public in the past several years, Figma has regularly posted profits. Figma's fully diluted valuation sits at approximately $56 billion, almost triple the amount Adobe agreed to pay in its 2022 acquisition offer. Regulators in the EU and the U.K. opposed the deal, which the two companies called off in late 2023. Dylan Field, Figma's 3 ...