Twilio, a cloud communications startup that lost $35.5 million last year, on Monday set terms for its initial public offering. This means that we could be less than a month away from the year’s first IPO for a VC-backed “unicorn.”
The San Francisco-based company plans to sell 10 million shares at between $12 and $14 per share. Were it to price in the middle of its range, Twilio would have an initial market capitalization of approximately $1.07 billion. That’s just a hair above the company’s last private-market valuation of $1.03 billion, which it received after raising $130 million in VC funding last summer.
Overall, Twilio has raised around $240 million in VC funding from firms like Bessemer Venture Partners (28.5% pre-IPO stake), Union Square Ventures (13.6%), Fidelity (6.1%), Amazon, 500 Startups, Altimeter Capital, DFJ, Founders Fund, K9 Ventures, Kapor Capital, Lowercase Capital, Redpoint Ventures, Salesforce Ventures and T. Rowe Price.