As widely anticipated, Twilio went public this morning at an opening bell share price of , slightly above the $12 to $14 per-share price Twilio noted in last month’s filing with the U.S. Securities and Exchange Commission.
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This helped overcome stock market volatility.
To mark the occasion, Twilio held a “code jam” to celebrate the developers in its community.
The IPO gives Twilio a market capitalisation of $1.2 billion.
Only two other USA -based tech companies have gone public so far this year.
Mutual fund manager T. Rowe Price Group Inc (TROW.O), a late-stage investor in Twilio, had publicly registered an interest in buying 15 percent of the IPO.
At $25.30 a share, Twilio has a market value of about $2.1 billion, well above where it was valued in its previous financing round at about $1 billion, or $11.31 a share.
The company has issued 10 million shares of Class A common stock out.
Twilio is pricing itself conservatively, market sources said.
This has resulted in the creation of many unicorns – which are companies having a valuation of $1bn or more. To date, it claims to have more than 1 million developers on its platform, one that includes a slew of features including enterprise support for session initiation protocol (SIP), MMS messaging features, Facebook Messenger integration, and most recently a programmable SIM, add-on marketplace, and a unified notification API.
The company reported a 77.9 percent jump in first-quarter revenue to $59.3 million, while its net loss narrowed to $6.5 million from $8.7 million.
Twilio trades on the New York Stock Exchange under the symbol “TWLO”.
The company’s filing showed that WhatsApp is one of its top customers, occupying 17% share in its overall revenue past year. The cloud communications company will begin trading on June 23, 2016.
Coming into the IPO Twilio has raised $233.7 million from investors including Redpoint Ventures, Draper Fisher Jurvetson (DFJ), Bessemer Venture Partners, K9 Ventures, 500 Startups, Union Square Ventures, SV Angel, and others.
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On the plus side, Twilio says it has 26,648 active customer accounts.
