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Jim Cramer: Twilio is not done going higher

The sky is the limit for Twilio, a company that went public just last week, CNBC's Jim Cramer said Wednesday.

"This is a company that is the backbone behind Uber and WhatsApp. It came public at a valuation that I believe was one quarter of what it would've come public at the end of 2014," Cramer said on "Squawk on the Street."

Last Thursday, Twilio soared nearly 92 percent on its first trading day. Since then, the stock has advanced more than 31 percent.

This company "is a reminder that, if you were able to open the window and you are able to come public … look at what can happen. What a great company; not done going higher."

The stock rose nearly 24 percent Wednesday.

TWLO since IPO

Source: FactSet

Disclosure: Cramer's trust did not own Twilio stock when this story was published.