Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.

Software developer Figma is poised to debut on the New York Stock Exchange on Thursday, becoming the latest high-profile tech company to go public.

In what should be a surprise to no one, Figma priced its IPO shares above its already-increased previously announced range.

Fast-growing Figma's internet software has over 13 million users, and the customer list includes Google, Microsoft and Netflix.

Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.

Venture capital firms have been waiting for big exits after an extended lull in IPOs. Figma's debut is returning billions.

CNBC's Jim Cramer warned that Figma's enormous spike during its first day of trading is a sign of market froth.

The Marin Community Foundation netted $440 million as the IPO's largest selling shareholder. The philanthropic organization is itself the product of a previous generation of big…