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Twilio’s IPO gives hope to other tech unicorns

Despite the worst year for IPOs since the financial crash, Twilio yesterday exceeded expectations by raising more money than expected in its IPO, reports the Wall Street Journal. The cloud communications platform priced its shares at $15 each and sold 10 million of them giving it a market cap of $1.2 billion—more than what the company was valued at in its previous financing round. Twilio’s successful IPO will give hope to other Bay Area tech firm unicorns—those companies privately valued over a billion dollars—who are looking to IPO but have held off due to poor IPO showings in the first half of 2016.

[Image: Twilio]MG