Figma Inc. shares are set to begin trading Thursday after the design and collaboration software company and some of its backers raised $1.2 billion in one of the year’s most anticipated US

Figma secured a valuation of $19.34 billion, just shy of the $20 billion it was set to fetch in a scrapped acquisition by Adobe in 2023.

The hype train has left the station, and Figma's share price is rocketing higher. Here is what might come next.