One of the the biggest tech IPOs of the year is shaping up nicely.
Twilio, which provides phone and messaging support services, is already beating expectations
After pricing at $15 a share yesterday, shares of the tech firm appear set to hit the market somewhere between $22 and $24 a share, according to Bloomberg.
Shares were initially expected in the $12 to $14 range, so the firm is already exceeding expectations.
While this is an encouraging sign for the overall market, it is partially disappointing since it shows that the IPO could have priced higher initially and the demand was underestimated.
Twilio is only the second tech IPO of the year, though it appears to be much more successful than the first, SecureWorks.
The company will begin trading on the NYSE under the ticker ‘TWLO’.
More to come…