The best Stratechery content from the week of July 28, 2025, including how to think about Figma, the future of the U.S.

Figma nourished the crowd at its Wall Street IPO party with free pizza, branded swag, and vibes.

Antitrust pressure killed Adobe's $20 billion takeover for design startup Figma. Its cofounder Dylan Field floated the business on NYSE at nearly the same valuation.

Design-software company Figma’s stock rocketed 250% above its initial public offering price, and was headed for the largest ...

As a business, Figma appears to have a bright future ahead of it, but after tripling on its IPO day, the stock now has a ...

Figma ‘could serve as an inspiration’ for other tech companies to go public.

It’s going to be really important that companies think about not just what they’re creating but how users are experiencing it,” says Figma CTO/ ...

Design software company Figma just went public in the hottest IPO of the year. Here's what its biggest investors' stakes are ...

Will Griffith is a seed investor in Figma. Investors didn't want to sell millions of shares. He explains why they did it ...

Figma, which makes a design platform, was on the verge of a big payday before regulators quashed the sale. On Thursday, it ...

According to Renaissance Capital, there have been 123 IPOs priced this year through July 31, a 48% increase from the year ...

Figma ( NYSE: FIG) shares erupted like a volcano during its initial public offering on Thursday. Just moments after appearing ...