Figma nourished the crowd at its Wall Street IPO party with free pizza, branded swag, and vibes.

Figma rallied 250 per cent to $115.50 a share on Thursday as it started trading on the New York Stock Exchange following an IPO that raised more than $1.2bn. The share rally — which was so sharp that it triggered multiple pauses in trading — gave the group a fully diluted market value above $60bn.

Investors cash in as design firm goes public after takeover dreams dashed updated 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,

The pricing of Figma’s IPO at $33 a share topped the projected range of $30 to $32 a share, which had been raised earlier this week from an original range of $25 to $28. At the IPO price, Figma would have a market capitalization of $19.

Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.

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.