The price for design software developer Figma surged more than 250% on Thursday to close at over $117 per share after raising over $1.2 billion in an IPO, well over three times the $30-$32 range the company estimated in SEC filings earlier this week—making its 33-year-old CEO Dylan Field a billionaire.

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.

Graphic design software maker Figma Inc. priced its initial public offering at $33 per share today, a buck above the expected range, raising more than $1.2 billion. The San Francisco-based company and several existing investors sold 36.