Algolia stock is now worth $29.24

The company raised $150 million in funding. Algolia’s shares are up +158% to the starting price on the UT platform in October 2019.

Algolia’s engine is optimized to search sites based on context, geolocation data and possible typos. The company serves more than 10,000 clients, including Slack, Stripe, Medium, Zendesk, and Lacoste.

In September Algolia implemented a stock split ratio of 1 to 3. It increased the number of shares by 3 times, while their price was reduced by 3 times as compared to the previous one. This is a common corporate action among companies with a high stock price.

The investment in Algolia was first introduced on our platform in October 2019 at $34 per share, with a valuation of $700 million. The company raised $150 million in Series D funding round that valued it at $2.25 billion.

Algolia processes over 1.5 trillion searches a year and develops other solutions. For example, its new algorithm will predict what a user wants to buy and offer these products in push notifications.