Interface design software company Figma made a stellar debut on the public markets on Thursday, with its stock soaring more than 3x its IPO price of $33 to close at $115.50 per share.

Traders expressed confusion and frustration on Thursday as demand for Figma shares appeared to far exceed supply. Figma’s initial public offering this week was a boon for investors. Well, some investors.

Figma’s IPO valued the company above $19 billion on a fully diluted basis. It raised about $1.2 billion for the company and investors who cashed out on shares, making it the biggest venture-backed tech IPO since 2021, according to Renaissance Capital.