The U.S. tech IPO market has been relatively quiet in 2025, yet positive receptions have greeted those who debuted. Figma, a design software provider, recently priced its IPO at $33 per share, slightly above expectations, and will trade under the ticker FIG. The success of prior IPOs this year bodes well for Figma, as all nine of the largest venture-backed IPOs have seen increases post-debut. Circle, a stablecoin provider, is the standout performer, with share values rising more than fivefold. AI infrastructure firm CoreWeave and digital banking platform Chime remain strong, with CoreWeave's market caps seeing substantial growth since their IPOs. The overall pace of IPOs remains slow, but interest is rekindling with anticipated launches, including those of Figma, which expects an initial valuation of up to $18.8 billion. As this trend continues, private companies may start to reconsider their reluctance to go public.

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