The big opening pop is the latest indication that the tech IPO market has reopened following a multiyear lull that began in early 2022.

Touted as the David to Adobe’s Goliath, design software upstart Figma’s stock could be quickly catching up after a stronger trading debut than even it expected.

Design software maker Figma's shares rose another 10 per cent in premarket trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market.

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.

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.