3 weeks ago
Shares of Figma (FIG) roseate 198% connected its archetypal time of trading connected the New York Stock Exchange aft the institution raised $1.2 cardinal for its Wednesday archetypal nationalist offering (IPO).
The steadfast priced shares astatine $33 a stock nether the ticker “FIG," valuing the institution astatine astir $20 billion. The banal changed hands astatine $98 successful archetypal trades connected Thursday, suggesting a valuation person to $60 billion.
Figma, a developer of plan software, antecedently disclosed the ownership astir $70 cardinal worthy of the Bitwise Bitcoin ETF (BITB) and said it plans to bargain different $30 cardinal worthy of spot bitcoin (BTC).
While Figma is acold from being a crypto company, the information that it holds bitcoin could perchance commencement a inclination for different Silicon Valley offerings.
The steadfast had signed a woody with Adobe to beryllium purchased for $20 billion, but the bundle institution terminated the woody successful 2023, agreeing to wage Figma a $1 cardinal termination fee.
Figma is the latest institution to instrumentality vantage of a blistery IPO play successful which crypto firms similar Circle (CRCL) oregon eToro (TOR) person seen their banal terms and valuation skyrocket successful the signifier of regulatory clarity being established successful the U.S.
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