Figma shares surged nearly 158% in their market debut on Thursday, valuing the design software maker at about $50 billion and setting the stage for a flurry of high-growth tech listings.

Shares of software company Figma soared in their stock-market debut Thursday, rising more than 200% in one of the splashiest initial public offerings in years.The stock opened at $85 a share, more than twice its IPO price and the best first-day showing in recent memory for a major offering.

Design startup Figma listed its shares on the New York Stock Exchange in a year when IPOs from buzzy tech firms have come roaring back.