The hype train has left the station, and Figma's share price is rocketing higher. Here is what might come next.

Figma secured a valuation of $19.34 billion, just shy of the $20 billion it was set to fetch in a scrapped acquisition by Adobe in 2023.

Sometimes good things happen to nice guys. I’m talking about Dylan Field, one of the more grounded founder-CEOs you’re likely to meet in tech. His design software firm, Figma, looks to be sailing toward a very strong public debut in the next week.

Design-software company Figma’s stock rocketed 250% above its initial public offering price, and was headed for the largest ever first-day gain, after an IPO had raised more than $500 million.

Design-software firm Figma is teed up as the next blockbuster unicorn IPO, following in the footsteps of Circle and CoreWeave.

The price for design software developer Figma surged more than 250% on Thursday to close at over $117 per share after raising over $1.2 billion in an IPO, well over three times the $30-$32 range the company estimated in SEC filings earlier this week—making its 33-year-old CEO Dylan Field a billionaire.

Figma Inc. shares are expected to debut in the $105–$110 range, following the company’s successful $1.2 billion fundraising effort in one of the most closely watched US IPOs this year. That indication represents a possible uptick of as much as 233% above the $33-per-share offering price.

Figma’s stock opened at $102 and rose as much as 200% from its IPO price of $33 per share. The offering raised $19.8 billion for the company by selling 36.9 million shares, just shy of the valuation Adobe had offered in its canceled acquisition and amounting to nearly 12% of the 40-year-old design giant’s current market valuation.