Pleasanton-based 10x Genomics is expanding rapidly as the privately-held company has surpassed a valuation of $1 billion. Currently employing 330 people (most in Pleasanton), leaders plan to hire another 200 people in 2019.
The firm, which makes tools to enhance gene research, announced the purchase of Spatial Transcriptomics, a firm based in Stockholm that makes a different genetic imaging tool, according to a Dec. 10 post by Matthew Herper on Forbes.com.
Earlier this month, the San Francisco Business Times reported that 10x Genomics is relocating its headquarters from the Koll Business Park to an office building at 6230 Stoneridge Mall Road in Pleasanton Corporate Commons, about a five-minute walk to the West Dublin/Pleasanton BART station. It leased more than 150,000 square feet there, nearly quadrupling the current 40,000 square feet.
Founded in 2012 by Serge Saxonov (founding director of research at 23andMe) and Ben Hindson (founder of QuantaLife), the firm has seen revenue grow consistently in the last few years. Herper reported the company was valued at $925 million in the latest $125 million round of funding that closed in April.
The Business Times reported that revenue exploded in the past three years by 2,044 percent from $3.32 million in 2015 to $71.18 million in 2017. The company said it will have significantly more revenue in 2018.
Herper’s piece reported, “Most genetic research is done by taking DNA from multiple cells, which may have tiny differences between them. But 10x sells tools that biologists use to understand the genetics of individual cells: both what genes are coded in their DNA and which genes are being used by the cellular machinery of each individual cell. The company’s product can also be used to pick up immunological differences at the cellular level.”
The closure of Toys ‘R’ Us has prompted retailers such as Target and Walmart to increase their seasonal stock of toys. What was surprisingly to me was walking into Home Depot in Pleasanton and see a display of true toys.
Sure, the tool section at Home Depot is loaded with “toys” for men, but the display was traditional toys for kids. A different spin for the big box store, but one that managers hope will spark spur of the moment purchases.