Posted November 14, 2018 06:19:04In the year 2016, the stock of Unity Technologies soared to $13,000.
Today, the company has sold a record $6.9 billion in equity in just over two months, according to FactSet data.
As of 11:59 p.m.
ET on Tuesday, the tech giant had a market cap of $61.9B.
And while that number is still a fraction of its record highs in 2017, the recent spike has helped drive the company’s stock price higher.
“We are in the midst of a tremendous, incredible, and historic turnaround in our company,” CEO and cofounder Peter Chou said in a statement on Monday.
“We have made enormous strides, and have created incredible wealth for our shareholders and the wider community.
It’s been a remarkable ride, and we are grateful for the incredible support of our investors, our partners, and of the wider tech community.”
While Unity Technologies shares rose more than 40% in the last 12 months, it’s not the only tech company to have seen an incredible rise in its stock value.
Last year, Facebook rose from $5.4B to $27.5B in a mere seven months.
Google is now valued at $53.7B, followed by Amazon at $54.7 billion, Apple at $64.6B, Microsoft at $63.9, and Samsung at $71.5 billion.