Twilio Inc. (NYSE: TWLO) entered the market with a bang in its initial public offering (IPO). The company ended up pricing its IPO at $15, above of the expected price range of $12 to $14. However, it actually entered the market close to $25. There are 10 million shares in the offering with an overallotment option for an additional 1.5 million.
The underwriters for the offering are Goldman Sachs, JPMorgan, Allen, Pacific Crest, JMP Securities and Canaccord Genuity.
This company believes the future of communications will be written in software by the developers of the world. By empowering them, Twilio’s mission is to fuel the future of communications.
Cloud platforms are a new category of software that enable developers to build and manage applications without the complexity of creating and maintaining the underlying infrastructure. These platforms have arisen to enable a fast pace of innovation across a range of categories, such as computing and storage. Twilio is the leader in the Cloud Communications Platform category. This company enables developers to build, scale and operate real-time communications within software applications.
Twilio’s developer-first platform approach consists of three things: its Programmable Communications Cloud, Super Network and Business Model for Innovators. The Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications via simple-to-use Application Programming Interfaces (APIs). The company does not aim to provide complete business solutions, rather its Programmable Communications Cloud offers flexible building blocks that enable customers to build what they need. The Super Network is the software layer that allows customers’ software to communicate with connected devices globally. It interconnects with communications networks around the world and continually analyzes data to optimize the quality and cost of communications that flow through the platform.
The company had over 28,000 active customer accounts at the end of March, representing organizations across nearly every industry, with one thing in common: they are competing by using the power of software to build differentiation through communications. With this platform, customers are disrupting existing industries and creating new ones.
Net proceeds from this offering are intended to be put toward working capital and general.
Shares of Twilio were last seen trading at $25.67, with more than 10 million shares having moved on the day. The range thus far is $23.66 to $25.84.
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