Twilio IPO a success
There'll be champagne corks popping at cloudy comms firm Twilio after shares rose 71 per cent on the first day of trading.
The company raised $150m after pricing its IPO at $15, but is currently trading at $25.67 a share, up $10.67 or 71 per cent. No doubt there'll be some profit taking at the end of the day, but it's a strong showing for the first tech IPO of the year, and values the company at around $1.2bn.
Twilio has yet to make a profit, but it seems to be getting close, only losing $6.5m against revenues of $59m.
The voice, messaging and collaborative working tools company is now looking to augment its VoIP and messaging platform and get into the Internet of Things market. ®