Figma's IPO featured a 333% surge in its initial trading days, prompting significant investor interest and discussions regarding subsequent IPOs. Investors contemplate whether Figma's success will inspire other startups to pursue public offerings, potentially signaling an end to the tech industry’s IPO drought. Notable companies like HeartFlow are already responding with IPO filings, while names such as Canva, Revolut, and Midjourney have been mentioned by investors as likely to follow suit. Positive IPOs are anticipated to create a motivating factor for startups considering going public.
"Having positive IPOs is a good signal for everybody," says Kirsten Green, founder and managing partner at Forerunner Ventures, whose portfolio company Chime recently went public and experienced a 37% pop in stock price on its first day of trading.
Green floats the idea of startups thinking of an IPO as the Series A of their new lives in the public markets—a notion she thinks could be 'a motivator to people's willingness, and maybe even eagerness, to go public.'
There's a long list of late-stage VC-backed tech companies with strong customer bases that Wall Street investment bankers would love to take public.
Following Figma's debut, the names Canva, Revolut, Midjourney, Motive, and Anduril were mentioned as more likely to IPO sooner rather than later.
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