Figma’s sensational IPO last week resurrected longstanding debates about IPO pricing and first day pops—an unsurprising reaction to the newly listed stock’s 333% surge in its first days of trading. As investors dissect the offering (and as Figma’s stock settles back a bit, falling 27% on Monday), other key questions have emerged: Will Figma’s debut entice other startups to jump into the fray, bringing an end to the tech industry’s IPO drought ? And if so, who’s next?

There’s a long list of late-stage VC-backed tech companies with strong customer bases that Wall Street investment bankers would love to take public. Many of these multi-billion dollar companies, including Databricks, Klarna, Stripe , and SpaceX , have been subjects of IPO speculation for years. And then of course, t

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