Twilio, which provides APIs that help developers easily add messaging, voice and video to applications, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $130 million by offering 10 million shares at a price range of $12 to $14. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, Twilio would command a fully diluted market value of $1.2 billion.
Twilio was founded in 2007 and booked $193 million in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol TWLO. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of June 20, 2016.
