Iconiq’s Will Griffith explains how his firm celebrated Figma’s IPO and why investors sold shares

Iconiq's Will Griffith, a seed investor in Figma, recently discussed the company's initial public offering (IPO) and the decision of investors to sell shares. Griffith explained that Figma's IPO was a significant milestone for the company and its investors. However, many investors were hesitant to sell millions of shares, as they believed in the long-term potential of the company. Despite this, Griffith and his team at Iconiq decided to sell a portion of their shares, citing the need to rebalance their portfolio and generate returns for their investors. Griffith emphasized that the decision was not an indication of a lack of confidence in Figma's future, but rather a strategic move to manage their investments. The article highlights the complex considerations that investors face when a company they have backed goes public, balancing their belief in the company's future with the need to realize their investments and diversify their portfolios.