Twilio is going public, lifting the tech IPO drought

Jeff lawson of twilioTwilioTwilio CEO and founder Jeff Lawson

San Francisco-based Twilio, which provides phone and text message services to app developers, has filed for an IPO — only the second tech company public market debut of 2016.

Companies like Uber and Nordstrom rely on Twilio’s service to send text messages and make automated phone calls to customers.

In its IPO prospectus filed on Thursday, Twilio reports that it’s not profitable, generating a $35.5 million net loss on $166 million in revenue in 2015. Still, the company says that it’s actively investing in growth, with 28.6 million active customer accounts in the quarter ending March 31st, 2016.

The filing says that Twillio will seek to raise $100 million, though that amount is typically just a placeholder that is likely to increase as the company nears its public market debut.

Twilio will list on the New York Stock Exchange with the symbol “TWLO.”

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