AsianFin -- Figma Inc.’s explosive 250% jump in its trading debut marked a blockbuster entry into public markets, giving the design software company a fully diluted valuation north of $65 billion and a powerful edge in the race for creative AI dominance.

The $1.2 billion IPO, executed with precision, sent a strong signal to rivals that Figma’s ambitions are only growing.

Led by co-founder Dylan Field, who launched the company in 2012 with a classmate from Brown University, Figma’s valuation now far exceeds the $20 billion price tag it would have commanded in a scuttled 2023 sale to Adobe Inc.