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Figma's IPO success is 'a little bit of a meme stock,' says Sapphire Ventures' Jai Das

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Manage episode 498666610 series 2552004
Content provided by TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Max Zeff, and Theresa Loconsolo. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Max Zeff, and Theresa Loconsolo or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Figma managed something rare in today's market: it stayed independent, survived a failed Adobe acquisition, and went public on its own terms. But its post-IPO performance tells a more complex story about startup exits in 2025.

Jai Das, President and Partner at Sapphire Ventures, joined Rebecca Bellan on Equity to discuss what Figma's IPO really signals about the current climate for startup exits. With more than a dozen IPOs under his belt including MuleSoft, Square, and Box, Das broke down Figma's debut, which was 40x oversubscribed and briefly surged to $125 per share before settling closer to $90.

Listen to the full episode to hear:

  • What Figma's post-IPO stock movement signals to the rest of the market
  • Why AI exits today focus more on talent than tech and whether that's sustainable
  • Where Jai sees early promise beyond AI, from defense tech to SpaceTech and crypto infrastructure

Equity will be back Friday with our weekly news roundup, so stay tuned.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

680 episodes

Artwork
iconShare
 
Manage episode 498666610 series 2552004
Content provided by TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Max Zeff, and Theresa Loconsolo. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Max Zeff, and Theresa Loconsolo or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Figma managed something rare in today's market: it stayed independent, survived a failed Adobe acquisition, and went public on its own terms. But its post-IPO performance tells a more complex story about startup exits in 2025.

Jai Das, President and Partner at Sapphire Ventures, joined Rebecca Bellan on Equity to discuss what Figma's IPO really signals about the current climate for startup exits. With more than a dozen IPOs under his belt including MuleSoft, Square, and Box, Das broke down Figma's debut, which was 40x oversubscribed and briefly surged to $125 per share before settling closer to $90.

Listen to the full episode to hear:

  • What Figma's post-IPO stock movement signals to the rest of the market
  • Why AI exits today focus more on talent than tech and whether that's sustainable
  • Where Jai sees early promise beyond AI, from defense tech to SpaceTech and crypto infrastructure

Equity will be back Friday with our weekly news roundup, so stay tuned.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

680 episodes

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