Twilio's Market Debut Makes It Best Performing IPO Of The Year
Cloud communications company Twilio (NYSE: TWLO) launched its IPO today and the market is reacting positively.
The San Francisco-based company was to debut at $15 per share; the stock opened at $23.99 and was up over 86 percent on its first day of trading making it the best performing IPO of the year.
Twilio is the first tech unicorn (privately held company valued at over $1 billion) to launch this year. Despite a recent struggling IPO market, the positive initial reaction received by Twilio could open the window for other the tech Unicorns to follow suit in launching their own respective IPOs.
Tech company's SnapChat, Pinterest, Uber, Dropbox and Airbnb, are some of the most heavily anticipated unicorns yet to go public. Twilio's strong performance right out of the gate is an encouraging sign for the rest of the tech industry.
Twilio's revenue came in at $167 million last year, an 88 percent gain year over year. The company reported a net loss of $39 million last year.
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