Figma sheds $11 billion in market value days after blockbuster IPO
San Francisco, California-based Figma shares had scored a massive 250% gain during their market debut on Thursday when they were priced at $33 but finished at $115.50, giving the company a market capitalisation of about $56.3 billion.
Figma's market value closed at $59.5 billion on Friday after its shares rose 5.6% to $122. The shares traded as low as $92.75 on Monday, down 23%, reducing its market value to about $45.2 billion.
"The excitement for Figma's business is not over, but the euphoria that's gone into its heady stock pricing seems to be deflating as those that wanted an early piece of the action bought in during market hours while some IPO recipients are probably taking sweet profits," said Michael Ashley Schulman, chief investment officer at Running Point Capital in Los Angeles.
Founded in 2012 and led by CEO Dylan Field, Figma provides cloud-based collaborative design tools, with a roster of marquee clients including Alphabet, Microsoft, Netflix and Uber.
Field owns about 54.2 million Figma shares worth about $5 billion after selling 2.35 million shares in the IPO. As is common in many Silicon Valley startups, Field retains 74.1% voting power over Figma given his holdings of Class B shares.
Adobe had abandoned a $20 billion deal to acquire Figma in 2023 following antitrust pushback from regulators in Europe and the UK.
"With Figma at a $46 billion market capitalisation, Adobe's failed buyout offer must now seem like a distant memory," Schulman added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
30 minutes ago
- Hindustan Times
Assetz acquires 11.5-acre land parcel in East Bengaluru to develop a ₹1,400 crore luxury housing project
Bengaluru-based real estate developer Assetz has acquired an 11.5-acre land parcel in East Bengaluru to develop a new luxury project. The project, backed by funding from Motilal Oswal Alternates, is expected to have a Gross Development Value (GDV) of over ₹1,400 crore and will add around 1.4 million sq ft of saleable area to the developer's portfolio, the company said in a statement. Assetz has acquired 11.5 acres in East Bengaluru for a luxury project backed by Motilal Oswal Alternates, with a GDV of ₹ 1,400 crore and 1.4 mn sq ft saleable area. (Representational Image)(Unsplash ) The upcoming project, on Old Madras Road (OMR)/Hoskote Highway, will house around 800 residential units. Part of the acquisition involves a joint development agreement with Vanshee Builders and Developers Pvt. Ltd. The company said that this land acquisition is backed by Motilal Oswal Alternates, one of India's largest domestic real estate credit funds. The funding comes soon after the fund manager announced the final close of its sixth real estate fund, raising ₹2,000 crore for investments in high-potential real estate projects. Anand Lakhotia, managing director and co-head (real estate) at Motilal Oswal Alternates, said, 'This association reflects our belief in Assetz's vision of building a professional residential platform with strong execution capabilities. Their emphasis on good governance and track record aligns with our strategy of backing top-tier developers.' Also Read: Is Bengaluru rental demand cooling down amid financial uncertainty, muted hiring in IT sector? Assetz eyes 9,000 homes across 19 projects Sunil Pareek, executive director at Assetz, said the deal aligns with the company's long-term approach to land acquisition and partnerships with institutional investors. 'In the past two years alone, we've secured a pipeline of 17 million sq ft across 19 projects, with the potential to deliver 9,000 homes. With 10 launches planned this year, we remain committed to offering homes that deliver long-term value to our customers and communities,' Pareek said. To date, Assetz has delivered 20 residential and commercial projects of about 15 million sq. ft. in the residential space.
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
GameRamp raises $5.4 mn pre-seed round to scale AI and launch tools
GameRamp, an artificial intelligence (AI)-native publishing operating system, has raised $5.4 million in a pre-seed funding round led by Bitkraft Ventures, with participation from South Park Commons, Mixi, DeVC and angel investors. The capital will be utilised for expanding the company's engineering and applied AI teams in the United States and India. It will also accelerate the launch of two services. These include Sentinel, an AI platform offering real-time personalisation of in-game economies and monetisation through reinforcement learning; and Grow, an embedded financing layer that provides developers access to capital. The company claims that studios using its tools can drive a 40–60 per cent increase in revenue. 'It isn't just about improving existing processes; it's enabling a completely new level of experimentation and insight. Our partners across regions like Vietnam, India and Turkey are seeing strong results, and we are excited to launch globally in the near future,' said Vivek Ramachandran, co-founder and chief executive officer, GameRamp. The company is headquartered in San Francisco, with a Bengaluru-based research and development (R&D) hub. 'As we kick off our deep focus on emerging markets, GameRamp stood out as the obvious partner for one of our first lead investments in the region. Their vision and execution gave us confidence to back them as a global fund,' said Anuj Tandon, partner at Bitkraft Ventures.
News18
39 minutes ago
- News18
Arunachal CM distributes AI reading devices to empower specially abled students
Itanagar, Aug 5 (PTI) Arunachal Pradesh Chief Minister Pema Khandu on Tuesday handed over AI-based reading devices to students of a school for the hearing and visually impaired near here, allowing them access to printed, handwritten and digital content. 'Real progress happens when innovation meets compassion, and when no one is left behind," Khandu said, as he distributed the 'KIBO' devices to students of the Donyi Polo Mission School for the Hearing and Visually Impaired at Chimpu. 'With KIBO, our children can now access printed, handwritten and digital content on their own, in their own language, and at their own pace," he said. The school was established in 1990 by former chief minister Gegong Apang. view comments First Published: August 05, 2025, 16:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
