$Figma(FIG)$ $CoreWeave, Inc.(CRWV)$ 📊💥 Figma vs CoreWeave: The $Billion IPO Face-Off That Will Define Tech’s Next Decade 🔥🧠
2025’s two biggest IPOs aren’t just capital events - they’re a referendum on how tech evolves:
Figma ($FIG): AI-native, platform-first, profitable.
CoreWeave ($CRWV): AI infra reseller, Nvidia-backed, CapEx-intensive.
Who wins when the hype fades? Let’s get surgical.
🧠 Business Model Breakdown
Figma builds the OS of creation - AI tools (Make, Dev Mode, Sites, Buzz) fuse design and dev. Two-thirds of its 13M MAUs (up 20% in 2025) aren’t designers. Dev Mode’s real-time AI outpaces Adobe’s Firefly June update with live autocompletion and preview.
CoreWeave sells AI compute access, leasing Nvidia H100s. Powers 20% of global AI compute today, but the moat is thin and margin-sensitive.
📈 Financials: Depth and Direction
Figma
• $821M LTM revenue (+46% YoY)
• $228.2M Q1 2025 revenue
• Net income: $44.9M (tripled YoY)
• 91% gross margin, 132% NRR
• 13M MAUs - 95% Fortune 500, 78% Fortune 2000
• FY2024 loss: $732M (stock comp) - profitable late 2024
• $99.5M BTC/USDC with ETF exposure
CoreWeave
• Estimated $1.2B 2025 revenue
• No net income disclosed
• $23B valuation - $1.5B raised
• Nvidia-backed, xAI/Anthropic dominant
🏛️ Leadership & Strategy
Figma: Mike Krieger (Instagram), Luis von Ahn (Duolingo) drive product vision.
CoreWeave: Nvidia muscle enables scale - but strategic autonomy is unclear.
💸 IPO Mechanics
Figma: 37M shares (12.47M new, 24.6M secondary, 5.5M greenshoe), $30-$32 pricing - $1.18B raise, $18.8B valuation. Auction-style model - 40x oversubscribed. Hiive bids: $45 high, $34 last (+84.8%).
CoreWeave: March 28 IPO, $40/share - $1.5B raised, $180 peak - $108.85 (-39%). Largest tech listing YTD.
🔍 Volatility & Context
CoreWeave: Aug 15 $280 calls are trading at IVs ranging from 181 to 193, with heavy sweeps and block trades. This is not investor conviction - it’s high-risk, short-term speculation.
Technically, CRWV has now retraced 50% from its post-IPO peak, and sits directly on the AVWAP from IPO ($108.85) - a critical decision point.
Figma: Institutional demand is real. The IPO was 40x oversubscribed. Robinhood halted access.
2025 market backdrop: 119 IPOs YTD (+45%), proceeds down 21%. Nasdaq P/E sits at 40.5x - risk-on mode engaged.
⚠️ Risks
Figma: Adobe Firefly and Miro’s AI no-code push increase pressure. High valuation and R&D spend could challenge short-term profitability. Retail access limited by auction mechanics.
CoreWeave: Nvidia pricing risk, client overconcentration, commoditizing infra.
🎯 Final Word
Figma monetizes creative workflows, anchors enterprise adoption, and grows profitably.
CoreWeave scales fast but risks structural fragility.
Figma builds the empire. CoreWeave rode the wave.
📢 Don’t miss out! Like, Repost and Follow me for exclusive setups, cutting-edge trends, and insights that move markets 🚀📈 I’m obsessed with hunting down the next big movers and sharing strategies that crush it. Let’s outsmart the market and stack those gains together! 🍀
Trade like a boss! Happy trading ahead, Cheers, BC 📈🚀🍀🍀🍀
@Tiger_comments @TigerPicks @TigerStars @TigerWire @TigerEvents
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
