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Endeavor Miami Company FIGS IPOs above analyst predictions.
MIAMI, May 27, 2021 — FIGS, founded by Endeavor Entrepreneurs Heather Hasson and Trina Spear, went public today at a price of $22 per share. A $3 increase from the previous analyst prediction of $19 per share, showing that underwriters believe there will be significant demand for the company’s stock.
Founded in 2013, FIGS identified a need for better quality alternatives to currently available products in the medical scrubs industry. FIGS aims to innovate the industry and simultaneously launched a philanthropic 1-for-1 program, Threads for Threads. According to their 2020 Impact Report, FIGS donated 70,398 scrubs and 100,000 isolation gowns to hospitals in underserved communities around the United States during Covid-19. FIGS also follows strict sustainable manufacturing guidelines requiring all of their manufacturers to be certified by the Worldwide Responsible Accredited Production (WRAP) program.
Since joining the Endeavor network in 2015, Heather and Trina have truly grown to embody what it means to be Endeavor Entrepreneurs. By serving as role models that constantly push the envelope, invest their resources into supporting new entrepreneurs, and mentor upcoming companies, they have paid their success forward to future generations of entrepreneurs.
“FIGS’ success creates a growing cycle of philanthropy every time the company expands. It’s Endeavor Entrepreneurs, leading companies like FIGS, who’s impact reaches far beyond the scope of a traditional business, who truly make a positive impact on the world,” stated Claudia Duran, managing director of Endeavor Miami.
Endeavor now supports over 2,175 entrepreneurs leading 1,356 companies in nearly 40 markets around the world. The organization’s entrepreneurs have created more than 3.9 million jobs, generate combined revenues of over $28B, and help build sustainable growth models in their home countries.
Established in 1997, Endeavor is leading the global high-impact entrepreneurship movement to drive economic growth and job creation by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 100,000 individuals and selected more than 2,100 founders leading over 1,300 scale-up companies. With support from Endeavor’s worldwide mentor network, Endeavor Entrepreneurs have created over 3.9 million jobs, generate more than $28.7 billion in revenue each year, and inspire future generations to innovate and take risks, building strong entrepreneurship ecosystems in growth markets. Headquartered in New York City, Endeavor currently operates in 40 growth markets throughout Africa, Asia, Europe, Latin America, the Middle East, and North America. The Endeavor Miami affiliate was established in 2013, with the support of the John S. and James L. Knight Foundation as the first U.S. affiliate of Endeavor Global. Endeavor Miami’s entrepreneurs generated close to $340M in revenues and over 3,000 jobs in South Florida in 2020. With the addition of its newest companies, the affiliate currently supports 22 companies and 39 entrepreneurs, such as Nearpod, Cameo, NovoPayment and Wyncode.
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