Figma debuts on Wall Street at $33 per share – then more than triples

Adobe competitor and one-time acquisition target Figma debuted on public markets on Thursday with 36,937,080 shares of Class A common stock at $33 apiece, valuing the web design tool developer at $19.3 billion. But the price-setters apparently underestimated demand dramatically, as investors sent the price up more than threefold …

[IGotOut]

And enshitification of the product...

....in 3...2...1

[spireite]

If investors make significantly less than expected, then it'll prove to a Figma of the imagination.

[Richard 12]

They *really* screwed up

Underestimating market demand by that much is either total incompetence or active sabotage.

The SEC should be asking serious questions.