Figma be giving degenerate traders the kind of FOMO they can’t refuse… 

Silicon Valley’s favorite collaborative design tool for people who say “Let’s async this” just did a little facelift of its own… Figma bumped up its IPO price range to $30–$32 a share, aiming to raise a thicc $1.2 billion at a fully diluted valuation of $18 billion. 

(Source: Giphy) 

For starters, this isn’t an average IPO thirst trap (ok, maybe it is). Figma’s doing the modern tech thing… asking investors to whisper how many shares they want and how much they’re willing to pay, like it’s some kind of backroom deal. The goal, obviously, is to trigger as much degenerate FOMO as possible. Because nobody wants to be the PE guy who missed the next $ADBE. Speaking of Adobe, remember when they tried to buy Figma for $20 billion and got cockblocked by regulators harder than a high schooler with parental controls? That breakup cost Adobe $1 billion in walk-away cash. Now, Figma’s back on the open market, single, thriving, and flaunting a slightly less aggressive valuation while whispering, “Your move.”

(Source: Bloomberg) 

The current IPO plan includes 36.9 million shares. Same amount as before… but the price hike is a stunt piece. That increase suggests institutional demand is strong, which makes sense when you realize half of tech’s bloated product departments now run on Figma boards that resemble crime scene yarn walls. And yet, the obvious thing is that this ain’t cheap. At $18B fully diluted, Figma still sits below the price Adobe once offered, but it’s above pretty much every other design tool IPO since the dawn of time. The signal is clear: Investors would rather pay for a company helping product teams ship wireframes than one helping your aunt add sparkle fonts to birthday cards… *cough* Canva *cough*. 

(Source: Instagram) 

Also worth noting: Figma’s IPO is being ushered in by the usual suspects… Goldman, Morgan Stanley, JPMorgan, and Allen & Co…. which is basically the fat cat A-team of IPO underwriters. Meaning, when you see that roster stack, you know everyone wants a piece. So, with that, what does all this really mean come IPO day tomorrow? Well, aside from confirming that collaborative design tools are the new SaaS gold rush, it also signals the tech IPO window is creaking back open. And if Figma sticks the landing when it prices, expect a stampede of late-stage unicorns to suddenly “revisit their public market strategies” with the desperation of a dude redownloading Hinge post-breakup.

In the end, Figma is pushing $1.2 billion into its own war chest, less than a year after getting left at the altar by Adobe. A win here would signal that the IPO is definitely back… and paves way for all those other crypto mouth breathing IPOs to mooch off the momentum. Of course, only time will tell how the IPO debut plays out… but it’s safe to say that tomorrow may bring some fireworks. Meaning, keep your eyes on this story and place your bets accordingly. Until next time, friends… 

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.