Dylan Field, co-founder and CEO of Figma, appears on the floor of the New York Stock Exchange in New York on July 31, 2025. Figma shares surged as much as 229% after the design software maker and some of its shareholders raised $1.2 billion in an IPO, with the trading valuing the company far above the $20 billion mark it would have reached in a now-scrapped merger with Adobe Inc.
Michael Nagle | Bloomberg | Getty Images
Figma shares dropped 23% on Monday, cutting into the gains the design software company posted after hitting the market last week.
The stock dropped $27.50 to $94.50 as of mid-day. That’s down from a close of $122 on Friday.
Figma and top stockholders sold about 37 million shares at $33 per share late Wednesday, yielding around $412 million in proceeds flowing to the company. On Thursday, its first day of trading on the New York Stock Exchange, the stock more than tripled.
The initial reception shows a renewed appetite on Wall Street for high-growth technology companies after a historically slow stretch for IPOs.
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 33-year-old CEO, owns stock in the company worth over $5 billion even after Monday’s slide.
WATCH: Figma more than triples in NYSE debut after selling shares at $33
