'Mad Money' host Jim Cramer talks Figma and his take on the company ahead of its IPO.

San Francisco

Figma, a prominent design software provider, is set to launch an initial public offering with an anticipated valuation near $20 billion, marking the largest enterprise software IPO since 2021. The company’s platform is widely used by major firms, including 95% of the Fortune 500, and supports the design of popular applications such as Google Maps, Uber, and Netflix.

Figma has demonstrated robust financial performance, with revenue growth of 48% last year and a large base of high-value customers. Despite its strong fundamentals, some market observers advise caution, suggesting the stock could become overvalued quickly after its debut. Adobe previously attempted to acquire Figma, but the deal was blocked by antitrust regulators.

Jim Cramer breaks down Figma ahead of its IPO

later this week, we got a big IPO coming. Figma, the design software company, is looking at an initial valuation in the neighbor of 20 billion bucks, making this the largest enterprise software deal since 2021. Now, my gut says that this stock should be able to roll right out of the gate. But you know what? I'm hesitant to recommend it, even though the underlying business is excellent, because I'm betting it'll quickly get way too expensive. Now, if I'm wrong, if I'm wrong, you got my blessing to buy this one, because this is some great company, but only in weakness, assuming we get any. See, Figma makes design software that's as ubiquitous as it is invisible. If you've looked up directions on Google Maps, if you've booked a ride on the Uber app, searched for flights from JetBlue, streamed shows on Netflix, tried to use Duolingo to learn a new language, or networked on LinkedIn, do you know that you've used a product that was designed with Figma software? They already have 95% of the Fortune 500 as clients. Basically, this company has a whole suite of software that makes it easier for their clients to design apps and websites, and their product is so good that, well, Adobe tried to buy the entire company a few years ago. Who could blame them? Blocked by antitrust. You can tell by looking at the numbers. Last year, Figma put up 48% revenue growth, although that slowed to 46% in the first quarter of this year, and somewhere between 39% and 41% in the second quarter. These guys have more than 10,500 customers paying more than $10,000 in annual recurring revenue, ARR. That's how you measure this kind of company last year. Up 45% year over year, 963 customers paying $100,000 in annual recurring revenue, and these numbers have both grown nicely this year as well. Don't miss a second of Mad Money. Follow at Jim Kramer on X. Have a question? Tweet Kramer. Hashtag Mad Mentions. Send Jim an email to madmoneyatcnbc.com or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com.

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Canberra

Australia expands teen social media ban to YouTube

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Washington

Global Tariffs

Trump says U.S. to hit India with 25% tariff starting August 1

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Birmingham

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Jerusalem

Middle East Conflict

Palestinian activist killed by Israeli settler in West Bank

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Hawaii

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New York

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London

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Kyiv

Ukraine Invasion

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Bogotá

Ex-Colombian president Uribe convicted of witness tampering, bribery

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Moscow

Russian official calls Trump's ceasefire deadline 'a threat'

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Zaporizhzhia

Russian air strikes hit a prison in Ukraine's Zaporizhzhia, 17 killed

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Traverse City

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Bangkok

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Kuala Lumpur

Thailand and Cambodia agree to ceasefire

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Stockholm

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Riedlingen

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Athens

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Garfield Township

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Breakdown