Why Twilio’s CEO Had the Guts to Go Public

When communications software company Twilio filed its IPO papers in late May, some skeptics questioned the timing. Based on the initial market response to its offering on Thursday, it looks like those fears were unfounded. Twilio is the first tech “unicorn”—a startup valued at more than $1 billion—to go public this year, although there are plenty biding their time. It was rewarded for that courage. Its price of $15 per share was higher than anticipated. That gave the company an initial market capitalization of $1.2 billion, slightly higher than its last private valuation. That didn’t last for long after the stock started trading Thursday morning. Twilio’s per-share price quickly rose above $25, with more than 10 million shares trading hands before noon. Twilio sells software code that lets companies add…


Link to Full Article: Why Twilio’s CEO Had the Guts to Go Public