Twilio Shares Rise By 92% In First Day Of IPO Trading

Shares of Twilio rose by approximately 92% in the company’s first day of trading on June 23. The San Francisco-based company that specializes in empowering developers to communicate via instant message and phone as a means toward enhancing communications and operational agility, closed the day at $28.79 per share, with a market cap that correspondingly moved from $1.2B to $2.4B by the end of the day. Twilio’s performance marked the end of a 196 day streak in which IPOs had failed to price above their anticipated ranges and subsequently offers hope to a tepid tech IPO market which has yet to experience the effects of Britain’s Brexit decision not to join the EU.