Twilio Soars 60% In Public Market Debut

Shares of Twilio Inc. opened at $23.99 Thursday morning, 60% above the initial public offering price. Twilio, a cloud communications company, priced the offering at $15 late Wednesday and sold 10 million shares to raise $150 million. With the $15 price point, the company had a public market valuation of $1.2 billion, above its private valuation of $1 billion. Goldman, Sachs & Co. and J.P. Morgan were the lead underwriters.