IPOs are moments of truth—will public market investors, literally, buy what VCs have been backing for years? It’s also an event that tests how people are thinking about the wider IPO market. Are we, after all this time,

Design software firm Figma could be the next blockbuster unicorn IPO, following in the footsteps of Circle and CoreWeave.

The expected offering price in the Figma IPO will be between 30 and 32, the company said in a regulatory filing.The software maker will trade under the ticker FIG. The Figma IPO has been widely anticipated on Wall Street.

Design-software company Figma Inc. priced its initial public offering above its estimated range at $33 a share, raising more than $1.2 billion, in a sign of a strong gain in its opening day of trading on Thursday.

The listing valuation comes to close to the $20bn Adobe offered to buy Figma in 2022 — a deal that collapsed after a year due to regulatory concerns — and well above the $12.5bn the group was valued at last year as part of a sale of employee stock.