Figma's IPO resulted in a major financial gain for the Marin Community Foundation, which sold over 13.4 million shares for more than $440 million. This made the foundation the largest shareholder in the offering, surpassing even major venture capital firms. The foundation received its shares from co-founder Evan Wallace prior to the IPO. Although this practice of sharing shares with charities isn't common, it does occasionally happen. Figma's initial share pricing was set at $33, with current valuations potentially exceeding $1 billion.
The Marin Community Foundation sold more than 13.4 million shares in Figma's IPO, making it the largest selling shareholder, netting over $440 million.
The charity received its shares in Figma from co-founder Evan Wallace shortly before the IPO, a practice that is uncommon but can happen.
Figma priced its shares at $33 each during its public offering and has since seen a pronounced increase in value.
The Marin Community Foundation is described as one of the largest community foundations in the U.S., managing philanthropy for various stakeholders.
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