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.

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.

As a business, Figma appears to have a bright future ahead of it, but after tripling on its IPO day, the stock now has a market cap of roughly $60 billion, giving it a price-to-sales ratio (P/S) of around 70. That's a sky-high valuation for even the brightest of IPOs.