Figma's IPO success is ‘a little bit of a meme stock,' says Sapphire Ventures' Jai Das
1. Figma's IPO was 40x oversubscribed, peaking at $125 per share. 2. Price driven by market hype, not just fundamentals. 3. Current M&A trends favor talent acquisition over product purchases. 4. Figma's independence contrasts with the trend of many startups being acquired.