Core Insights - Figma, a cloud-based design software giant, made a record-breaking debut on the New York Stock Exchange, igniting market enthusiasm and drawing attention from Wall Street [2][3][4]. Company Overview - Founded in 2012, Figma specializes in developing software for application and website design [7]. - The company reported a revenue of $749 million for the fiscal year 2024, representing a 48% year-over-year growth, and $228 million for Q1 2025, a 46% increase [10]. IPO Performance - Figma's stock opened at $85 per share, a 157% increase from the IPO pricing of $33, and peaked at $124.63 during the day, marking a 277.7% rise [4]. - The closing price on the first day was $115.5 per share, resulting in a 250% increase and a market capitalization of $56.3 billion [5]. - The IPO raised a total of $1.22 billion, with over 40 times subscription [13]. Market Impact - Figma's successful IPO is seen as a significant event in the tech sector, potentially revitalizing the IPO market, which has been sluggish due to inflation concerns [13][14]. - The company has established a near-monopoly in the product design market, with strong long-term growth potential attributed to its international market presence and future growth in the U.S. [13]. User and Client Metrics - Figma's monthly active users are projected to reach 13 million by Q1 2025, with approximately 450,000 customers, including major clients like Google, Microsoft, and Netflix [8][9]. - The number of customers contributing at least $100,000 annually increased by 47% year-over-year [8]. Investment in AI - Figma is heavily investing in AI, with R&D spending projected to increase significantly, indicating a commitment to integrating AI into its design workflows [12].