Twilio prices shares at $15 ahead of debut on New York Stock Exchange

Less than 24 hours before its initial public offering, Twilio has provided more details about its public debut. In a release, the cloud communications company said it expects to price its shares at $15, which is just slightly above the projected range it issued previously. At this price, it’s estimated that Twilio could raise at least $172.50 million on the public market.
The company will be listed in the New York Stock Exchange (NYSE) under the ticker symbol TWLO.
Interestingly, when trading begins tomorrow, Twilio will have something special to mark the occasion. TechCrunch reports that Twilio will bring three developers who will engage in a “code jam” where the objective is to code as many apps as they can using the platform’s messaging and telephony offerings.
One thing that the company has tried to stress in the past is the notion of being a “do’er” and encouraging developers to create more services instead of relying on traditional systems — CEO Jeff Lawson has pushed for more software-defined communication. A significant part of Twilio’s culture — as with Facebook, Twitter, and other technology companies — is the ever-popular hackathon, and this is something Twilio believes will show potential shareholders the power of its platform.
The approaching IPO was set in motion in December when Twilio confidentially filed paperwork with the SEC under the JOBS Act. Then, earlier this month, Twilio publicly filed its S-1 with regulators for its IPO, listing an expectation of raising $100 million on 10 million shares. However, last week the company amended its filing to increase the share amount by 1.5 million. Twilio had also previously said that it would price its stock between $12 to $14, which would have given it approximately $161 million at the high-end of the range.
The company is working with Goldman Sachs, Allen & Company, J.P. Morgan, Pacific Crest Securities, and Canaccord Genuity as underwriters.

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Twilio prices shares at ahead of debut on New York Stock Exchange
Twilio prices shares at ahead of debut on New York Stock Exchange



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