Great success of a biology startup


Ginkgo Bioworks is a synthetic biology company. Currently it has valuation of $15 billion and proceeds to trading on the New York Exchange.

The Debut 

The company was founded in 2009. The idea of using cells to ‘grow everything’ became the core of the platform. The company’s start was one of the most promising ones in biotech industry. According to forecasts, Gingko was supposed to raise $1,6 billion. Besides, it became one of the largest SPAC deals: the company is going public via a merger with Soaring Eagle Acquisition Corp. 


Gingko’s goal is to ‘program cells like you can program computers’. Eventually, we can use these cells to make anything, e.g. materials, food, drugs, fragrances or flavors. 

The huge valuation of Ginkgo appears even more incredible considering the current revenues. In accordance with SEC reports, the company raised $77 million in revenue 2020, which increased to $88 million in the first 6 months of 2021. Gingko is intended to pull in $175 million in revenue by the end of the year.

How to make it happen

The company plans to have 2 revenue streams. The first one is contracting with manufacturers during the research and development stage. This strategy is about to work. Gingko reported $59 million in foundry revenue for 2020 and expects $100 million this year. However, the revenue is not covering the full expenses of company’s operations. 

The second revenue stream is royalties, milestone payments, or occasionally equity stakes. This income source is expected to considerably contribute to the company’s future worth. 


The outside contractor’s ability to manufacture and sell products will greatly affect the large part of cash. This will lead Gingko to some risks that are out of their control. It might prevent some types of downstream payments from materializing. 

However the founder, Kelly, doesn’t appear to be worried about this. Even if one particular program fails, he aims to develop so many programs working that one or two are bound to be successful.


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