Short answer: Jordan Metzner says Figma shares fell about 15% even though revenue grew 40% year over year and it slightly beat expectations; he thinks Figma is expanding in enterprise and has capital to acquire complementary AI tools.
Watch this answer from Episode 11 (starts at 18:05) · Episode 11 notes and transcript
From Episode 11: Coding the Beat: Strudel, Claude Dashboards & OpenAI’s $1B Play, starting at 18:05.
Sam Nadler [18:04]: I know you wanted to talk about Figma, and a couple weeks ago, we covered the IPO, which I think, opened at somewhere around $30.35 dollars. I think eventually got up to the $1.15, $1.20, but, has, come down a little bit. I don't know what the price is as of today. Is it in the seventies? Is that accurate?
Jordan Metzner [18:30]: Yeah. I mean, I know today shares plunged, like, 15% or something like that. I think revenue increased 40% year over year, so, company is definitely growing. I think they just slightly beat expectations and earnings are breakeven. But, yeah, I think overall, it just shows kind of this company is still growing. You and I were talking that, we in general use less Figma today than we did before, especially due to AI. But my guess is that, Figma is probably expanding heavily in the enterprise space where, they were not using tools like Figma and, they're still slow to adopt AI inside their enterprises. And so, still a great opportunity. And, yeah, I mean, Figma, probably with all this new capital they raised, probably has a war chest to go, acquire some AI tools that probably will be complementary to their business today, and are probably some of the tools that you and I are talking about on a weekly basis. So it's really early.
Jordan Metzner [19:21]: I would not count out Figma or Dylan or the rest of the team. Since there's really only competition is Adobe, it seems like, they're still in a pretty good spot until we see something different.
Sam Nadler [19:30]: Cool. Anything else to cover today?
