Shares of design collaboration titan Figma (Nasdaq: FIG) exploded after its public market debut, topping $100 in its early minutes of trading.

Why it matters: The early share price was more than triple the $33 per share IPO pricing.

By the numbers: The surge did not come as a surprise, as it was indicated shares would begin trading at $86 to $87 each.

Zoom out: Figma priced its shares at $33 late Wednesday, after revising its original price range from $25-to-$28 to $30-to-$32 earlier.

The bottom line: Early trading gave Figma a market cap of more than $40 billion, nearly twice the $20 billion that Adobe planned to pay for Figma in late 2022 before U.S. antitrust regulators objected.