Sponsored By

Twilio (TWLO), the cloud communications startup that is one of the few tech companies taking the IPO plunge so far this year, set its initial price at a whopping $150 million. The company reported on Wednesday that it sold 10 million shares for $15 apiece, higher than the $12 to $14 range it had marketed to investors.

Kris Blackmon

June 23, 2016

1 Min Read
Twilio IPO Exceeds Expectations

Twilio (TWLO), the cloud communications startup that is one of the few tech companies taking the IPO plunge so far this year, set its initial price at a whopping $150 million. The company reported on Wednesday that it sold 10 million shares for $15 apiece, higher than the $12 to $14 range it had marketed to investors.

The 2016 technology market has been rough on startups looking to embark on an initial public offering, and many of the unicorns—companies with a valuation of over #1 billion—of the last couple of years have elected to stay private rather than risk devaluation. If successful, Twilio’s IPO may be the stimulant that the tech market needs for other startups to brave the IPO waters.

The communications software startup is a representative test case for the multitudes of unicorns that are waiting for the market to shift in their favor before embarking on their own public offering. Though Twilio reported 88 percent revenue growth over the last year, it’s yet to turn a profit.

Twilio was valued at slightly over $1 billion as of its latest funding round in July. With the IPO, the startup will have a market capitalization of $1.2 billion, according to the Wall Street Journal.

 

 

Read more about:

AgentsMSPsVARs/SIs

About the Author(s)

Kris Blackmon

Head of Channel Communities, Zift Solutions

Kris Blackmon is head of channel communities at Zift Solutions. She previously worked as chief channel officer at JS Group, and as senior content director at Informa Tech and project director of the MSP 501er Community. Blackmon is chair of CompTIA's Channel Development Advisory Council and operates KB Consulting. You may follow her on LinkedIn and @zift on X.

Free Newsletters for the Channel
Register for Your Free Newsletter Now

You May Also Like