[mattmcknight]

But the company only sold the shares at $19.3B.

[snowwrestler]

But they also only sold a very small number of shares at that valuation, vs all of them at $20B to Adobe.

[hackernewds]

this is the answer

[cogman10]

Right, which gave them 19B (ish) to play with and they are an independent competitor to Adobe.

Mergers trigger layoffs

[seattle_spring]

Figma raised $1.2B in their IPO. Total shares listed != money raised, not by a long shot. Most shares are just to give liquidity to existing shareholders of the company.

[dv_dt]

If they have to issue shares the higher valuation is significant

[singhrac]

The employees will have to wait 180 days (at least that's the standard) before selling any shares, so they usually feel the effects of a "bounce".