SAN FRANCISCO: Twilio Inc shares soared more than 70 percent to US$25.83 after the technology company’s stock market debut on Thursday.
The San Francisco company makes software that helps companies communicate with their customers and employees through text messages, phone notifications and in other ways. The eight-year-old company raised US$150 million in its initial public offering, selling 10 million Class A shares at US$15 per share, above the US$12 to US$14 range it was expecting the stock to be priced at.
The stock’s rise on Thursday valued Twilio at more than US$2 billion. Twilio reported a net loss of US$39 million last year, wider than the US$27 million loss it reported in 2014, as its costs rose. It had revenue of US$167 million last year, an 88 percent jump from a year earlier.
