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Twilio Readies for $100 Million IPO

Twilio_homepage_May2016San Francisco-based, cloud-communication specialist Twilio is seeking to raise $100 million in an initial public offering. Twilio will trade on the New York Stock Exchange under the ticker, TWLO. Underwriting the offering are:

  • Goldman Sachs
  • J.P. Morgan
  • Allen & Company ,
  • Pacific Crest Securities
  • JMP Securities
  • William Blair
  • Canaccord Genuity

The impending fintech IPO has some wondering whether or not the news marks the end of a relatively quiet period for public offerings. Currently valued at more than $1 billion, Twilio has raised more than $230 million in funding to date. The pricing of the company’s shares has not been disclosed and the company is still not turning a profit. But with revenues of $166 million in 2015, more than 28,000 active customer accounts, and customers ranging from Uber and Coca-Cola to Home Depot and WhatsApp, Twilio hopes to impress investors with a range of solutions ranging from authentication technology to programmable voice, video, SMS, and wireless solutions.

Twilio_Authy_stage_FF2015

Pictured: Twilio VP and General Manager Marc Boroditsky demonstrated Authy OneTouch at FinovateFall 2015.

Twilio’s SEC filing reveals revenues of $166 million for 2015 and $59 million in the three months ending March 31, 2016. The quarterly gain represented a boost of 78% year-over-year, while the annual sales figure represented a gain of 88% over 2014. Net losses also increased, growing 32% from $26.7 million to $35.4 million.

“Our goal is for Twilio to be in the toolkit of every software developer in the world,” the prospectus reads. “As of March 31, 2016, over 900,000 developer accounts had been registered on our platform.” The prospectus also lists the company’s key elements of the Twilio’s growth strategy, which include continued investment in technology, expanded focus on the enterprise, growing their developer community, and “selectively pursue acquisitions and strategic investments.” Note that in February 2015, Twilio purchased Authy, its first major acquisition, for an undisclosed sum.

Founded in 2012 and headquartered in San Francisco, Twilio demonstrated its Authy OneTouch authentication solution at FinovateFall 2015. The company is also a FinDEVr alum, having presented Authy 2FA in 20 Minutes” at FinDEVr 2015, San Francisco.