Iconiq’s Will Griffith explains how his firm celebrated Figma’s IPO and why investors sold shares
Will Griffith had only been two months in his job as a venture investor for Iconiq when he met a 19-year-old college dropout named Dylan Field. This would lead to one of his signature seed investments, in a startup called Figma. On Thursday, Figma went public with the stock popping from the $33 IPO opening price to close at $115.50 and a $47 billion market cap. And Griffith could not be more effusive in his praise for the company. “You go to one of these user conferences and you’re like, there’s 15,000 people here and 5,000 have Figma tattoos,” Griffith smiled. From the earliest days, the founders of this company that offers software for designers had “a fervent desire to win and deliver and redefine this ecosystem.” Yet in 2013 at that first meeting, co-founders…
