Figma’s shares dropped 27% on August 4, 2025, closing at $88.6 per share, down from $122 on August 1. This decline brought the company’s market capitalization to around $56 billion. However, this value still remains nearly three times higher than the amount Adobe offered for Figma’s assets in 2022, according to CNBC.
Figma held its IPO on July 30, 2025, selling approximately 37 million shares at $33 each. The next day, July 31, shares quickly surged to $85 during trading, closing the main session at $115.5 and later reaching a peak of $147.89 per share.
John Van, founder of crypto startup Armor Labs, suggested that Figma’s IPO was intentionally undervalued, not due to market hype. He believes investment banks deliberately set the price low to guarantee large profits for their key clients on the first trading day.
According to a Bloomberg source, there were discussions about setting a higher IPO price, but Figma’s co-founder and CEO Dylan Field approved the final $33 per share to attract long-term institutional investors.
This situation highlights Figma’s market positioning and investment strategy as a notable example in the tech IPO landscape.
