<p>NEW YORK &mdash; Shares of Figs Inc., which sells scrubs online to nurses and doctors, soared in their stock market debut Thursday, valuing the 8-year old company at $4.8 billion. </p>
<p>Heather Hasson and Trina Spear founded founded the company in 2013, setting out to remake what medical scrubs looked like: from baggy and V-necked to a more fitted silhouette in different styles. </p>
<p>At first, Hasson and Spear sold the scrubs from their cars outside hospitals, trying to catch healthcare workers as they left their shifts at 7 a.m. and 7 p.m. Today, Figs sells its goods online, and offers scrub bottoms that look like joggers and tops that are sleeveless.</p>
<p>The company aims to dress healthcare workers from head-to-toe, selling underwear, socks and fleece jackets that go with its scrubs. It has also partnered with New Balance to sell a line of sneakers.</p>
<p>Last year, the Fig’s revenue more than doubled to $263 million from the year before. Its profit soared to $49.7 million from $112,000 in 2019. </p>
<p>Figs, which is based in Santa Monica, California, raised more than $580 million in its initial public offering, selling nearly 26.4 million shares at $22 apiece. Hasson and Spear are co-CEOs. </p>
<p>The IPO is the first to be sold on stock trading app Robinhood, giving regular people a way to buy shares in an IPO. Typically, only Wall Street insiders can buy into companies before they become public, although there have been some exceptions. </p>
<p>Ride-hailing apps Uber and Lyft gave their drivers a way to buy IPO shares. And online marketplace Etsy let its users get a piece of its IPO. </p>
<p>Figs said it teamed up with Robinhood so that healthcare workers could have a way to own a piece of the company. </p>
<p>“To be able to give access to a whole group of people in our community was really important to us," said Spear. </p>
<p>Shares of Figs, which are trading on the New York Stock Exchange under the ticker symbol “FIGS,” rose $7.22, or 33%, to $29.22 in afternoon trading Thursday. </p>
<p>Hasson said she named the company after her favorite fruit, inspired by other brands with fruits in their name. </p>
<p>“I thought about really successful companies,” she said. “Lululemon — fruit; Apple — fruit.” </p>
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<p>AP Business writer Alex Veiga in Los Angeles contributed to this story. </p>