Ginkgo Bioworks raises $1.6 billion in NYSE debut

In New York, Ginkgo Bioworks began trading on the New York Stock Exchange on Friday, September 17 under the ticker DNA. Debuting at around $15 billion, the SPAC deal raised an estimated $1.6 billion for the Boston-based synthetic biology company.  

The company reported $88 million in sales in the first half of 2021, tracking higher than 2020, which saw full-year sales of $77 million. The company expects to post $175 million in sales for 2021.  

Ginkgo Bioworks CEO Jason Kelly tells TechCrunch that he envisions a world where cells are programmed to “grow everything,” including fragrances, flavors, materials, drugs and food.  

Kelly says the biggest driver of value will be the company’s pipeline of new cell programs. In 2020, the company added 50 programs; year-to-date for 2021, the number is 30.  “I’m just sorta like: some will work, some won’t work. Some will take a year, some will take three years. It doesn’t really matter, as long as everybody is working with us,” he adds. “Apple doesn’t stress about what apps are going to be the next big app in the app store.”