Monday, October 10, 2016

Twilio Plans Follow On Offering As Investors Eye Liquidity

Twilio, the developer of telephony APIs which was founded in Seattle, said late Friday that it has filed an S-1 for a follow on offering, in a move which will provide liquidity to its Class A stockholders. Twilio will not be receiving any proceeds from the sale, which comes five months after its IPO on the NYSE as TWLO. As is typical in an IPO, most of the company's executives and venture backers are kept in a lock-up period from 90 to 180 days after an IPO. Twilio is backed by Bessemer Venture Partners, Union Square Ventures, Fidelity, and others. Twilio was originally founded in Seattle, with seed funding from The Founders Fund and Mitch Kapor.