Figma stock (NYSE: FIG): IPO'd at $33, tripled day one, now below the offering price

What's publicly reported

Can you buy Figma stock?

Yes. Figma is a public company on the NYSE. Any standard brokerage — Fidelity, Schwab, E*Trade, Robinhood, TD Ameritrade, and others — can execute a trade in FIG during market hours. There is no accredited investor requirement for buying shares on the open market.

This page is educational, not a recommendation to buy or sell. What it can tell you factually: FIG has underperformed its IPO-day opening dramatically, revenue growth remains strong but is decelerating from 48% toward a guided 36%, and the stock is currently trading below its initial offering price. Whether that represents value or further risk is a judgment call that belongs in your own research, not here.

Why did Figma IPO? The Adobe acquisition that didn't happen

Figma's path to the public market ran through a $20 billion acquisition that was terminated before it closed:

1. September 2022 — Adobe announces $20 billion deal. The planned acquisition would have combined Adobe's creative suite with Figma's collaborative design platform. For Figma employees and investors, it implied a near-term liquidity event at a substantial premium.⁴
2. December 2023 — Deal abandoned after regulatory opposition. The UK's Competition and Markets Authority provisionally found that the combination would harm competition in screen design, interactive design, and creative editing tools. The European Commission launched a parallel investigation. Adobe and Figma mutually terminated the agreement; Adobe paid a reported $1 billion breakup fee.⁴
3. 2024 — Figma builds toward independence. With the acquisition off, Figma hired for public-company readiness and expanded its product footprint — FigJam, Dev Mode, and Figma Sites — beyond its core design tool.
4. July 30–31, 2025 — IPO on NYSE. Figma priced at $33 and raised approximately $1.2 billion. The day-one triple reflected years of pent-up investor demand from a company that had been expected to go private via the Adobe deal.¹
5. Late 2025 through 2026 — Post-IPO repricing. The IPO-day premium normalized against revenue multiples as growth expectations were reset. As of late August 2026, FIG trades near its offering price and well below the day-one close.

What Figma does

Figma builds browser-based collaborative design tools — the de facto standard for UI/UX design at software companies. The product's defining feature is real-time multiplayer collaboration: multiple designers can work in the same file simultaneously without version-control conflicts. Key products:

• Figma Design — vector design, prototyping, and engineering handoff
• FigJam — collaborative whiteboarding and brainstorming
• Dev Mode and Figma Sites — expanding from design into adjacent coding and publishing workflows

The 136% Net Dollar Retention means existing customers are growing their Figma spend 36% per year on average — a strong platform expansion signal. The growth deceleration from 48% (Q2 2026) to a guided 36% (Q3 2026) was the catalyst for the most recent sell-off; the market was pricing in continued acceleration.

FIG stock performance: IPO to now

The day-one triple — from $33 to $115.50 — was driven by institutional enthusiasm and years of demand suppressed by the Adobe acquisition saga. The subsequent decline reflects:

• Lockup expiration selling. Post-IPO lockups typically restrict employees and early investors from selling for 180 days. When that window opened in late 2025, supply entered the market.
• Revenue growth deceleration. The market priced FIG at a premium expecting sustained hyper-growth. Each sequential quarter that growth moderated from 48% toward 35% compressed the multiple.
• Broader software multiple compression. Publicly traded SaaS stocks have re-rated across the board as interest-rate expectations shifted through 2025 and 2026.

As of late August 2026: 52-week range $16.60–$72.11, current price ~$27, below the $33 IPO offering price.³ Figma's market cap has compressed from ~$68B at the IPO-day close to a fraction of that figure at current prices. The company remains cash-flow positive and has $1.7 billion on its balance sheet with no near-term capital need.

If you hold FIG as a Figma employee

The investor questions above are largely irrelevant to your situation. What matters to you as a holder of employee equity:

• Your RSU settlement basis is the IPO-day price — ordinary income already recognized. The subsequent decline is a capital loss on paper, not a refund of the ordinary income you owed. These are two separate tax events.
• The one-year LTCG clock. RSUs that settled in mid-2025 are crossing the one-year holding-period threshold in mid-2026. Shares above settlement basis are approaching long-term capital gains treatment; shares below basis may be harvestable as capital losses.
• Ongoing vesting creates new ordinary income. Each vest event generates W-2 income at the current FIG market price, with its own lot basis and LTCG clock.

The Figma employee equity guide covers the LTCG timing decision, lot selection, loss harvesting, concentration glidepath, and 10b5-1 planning for insiders. The RSU settlement tax estimator sizes the federal withholding gap, and the concentration calculator models a per-year glidepath.

Frequently asked questions

When did Figma IPO?

Figma priced at $33 per share on July 30, 2025, and began trading on NYSE as FIG on July 31. Day-one close was $115.50, more than tripling the offering price and valuing the company at roughly $68 billion fully diluted.

What is Figma's stock price right now?

As of late August 2026, FIG was trading around $27 — below the $33 IPO offering price — with a 52-week range of $16.60 to $72.11. Check your brokerage or any financial data site for the live price.

Can I buy Figma stock today?

Yes. FIG trades on the NYSE; any brokerage account can execute the trade. This is educational information, not investment advice.

Why did Figma not get acquired by Adobe?

Adobe's $20 billion deal was blocked by regulatory opposition — UK's CMA and the European Commission determined it would harm competition in design software. Adobe terminated the deal in December 2023 and paid a reported $1 billion breakup fee. Figma IPO'd independently in July 2025.

What tax do Figma employees owe on RSU settlement?

Double-trigger RSUs settled as ordinary income at the IPO-day price. Withholding at the 22% federal supplemental rate often falls 13–15 points short of the real marginal rate (35–37% federal plus state). The Figma employee guide has the full analysis and a step-by-step planning checklist.

Hold FIG equity? Get a glidepath modeled.

Get matched with a fee-only fiduciary who works post-IPO equity — lot selection strategy, LTCG timing, loss harvesting, concentration targets, and 10b5-1 design for insiders. Free, no obligation.