Twilio Goes Public
Twilio is trading on the NYSE ticker symbol $TWLO while the globe is awaiting the outcome of the United Kingdom’s referendum on its European Union membership.
The stock opened 60% higher, at $23.99 before extending gains to $24.71, up to approximately 65%. The stock is currently trading at $40.85 per share.
Twilio’s IPO marks the first US venture-backed tech IPO in 2016 despite the volatility throughout the year. The cloud software developer priced its IPO at $15 per share, above the $12-$14 range that was proposed in an updated IPO prospectus last week.
The company is entering the public market with traction. Since 2015, the company’s revenue almost doubled to $166.9 million, and is working up towards profitability. Twilio is ranked #39 CNBC’s Disruptor list of 2016.