Group 1 - Figma shares surged 229% after raising $1.2 billion in an IPO, valuing the company above $20 billion, which was the amount it would have reached in a now-scrapped merger with Adobe [1][3] - The stock dropped 23% on the following Monday, reducing the gains made after its market debut [1][2] - Figma sold about 37 million shares at $33 per share, yielding approximately $412 million in proceeds [2] Group 2 - Figma expects second-quarter revenue to increase by about 40% year-over-year and has regularly posted profits, unlike many recent tech IPOs [3] - The company's fully diluted valuation is approximately $56 billion, nearly three times the amount Adobe offered in its 2022 acquisition proposal [3] - Dylan Field, Figma's CEO, holds stock worth over $5 billion despite the recent stock price decline [4]
Figma's stock sinks more than 20% after last week's IPO pop