Twilio today said it would price its initial public offering at $15 per share, which would value the company at around $1.23 billion.
That would value Twilio above its previous $1 billion valuation from its last financing round. With the pricing, the company expects to raise around $150 million, with an option for another 1.5 million shares to be purchased. It’s also a higher price than the $12-$14 per share price that the company previously targeted.
Twilio’s IPO will be an important one given the drought of tech IPOs this year. Anxiety has gripped many startups that have hit unicorn status given the complete lack of tech IPOs for 2016 (Twilio will only be the third of the year). The hope, for many startups, is that Twilio will re-open the tech IPO window with a strong showing after trading begins tomorrow.