Figma Loses $21 Billion in Value After Post-IPO Surge
Figma has shed $21 billion in market value just weeks after its record-breaking IPO, returning the company’s valuation to around $9 billion. After opening strong, shares have dropped by over 70%, driven by concerns about inflated tech valuations and competitive pressures from Adobe and newcomers like Penpot. Analysts cite limited revenue growth and profits despite early investor enthusiasm.
This sharp correction highlights the risks of inflated expectations in high-profile tech IPOs, especially in the design and AI-powered collaboration tool sector.
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