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Twilio opens trading at $23.99 per share

TechCrunch TechCrunch 23/06/2016 Anthony Ha

Twilio is now trading on the New York Stock Exchange under the ticker symbol TWLO. It started trading today about an hour after the NYSE opened, at a price or $23.99 per share. That’s nearly 60 percent above its IPO price of $15. And the price is still climbing.

If the stock continues to do well, that could be good news for tech companies and investors, who are likely hoping that a strong showing from Twilio will pave the way for more tech IPOs after the disappointment of last year’s offerings.

The company, which offers a platform for developers to add voice and text messaging capabilities to their own apps, is not profitable — it reported a net loss of $35.5 million last year. However, it’s showing strong revenue growth, with $166.9 million in 2015 revenue compared to $88.8 million the year before.

Oh, and the company is hosting a “code jam,” with three developers building Twilio apps from the stock exchange floor. (As I write this, the event is live on Twitch). TechCrunch’s Fitz Tepper is on the floor and should be posting a video later today.

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