With cloud companies flourishing during the epidemic, one of the category’s recent public-company success stories is set to make a splash by spending billions to acquire its millions.
The segment and its CEO Peter Reinhardt did not respond to requests for comment. A Twilio spokesperson said the company “cannot comment on any rumors or speculation.”
Twilio, which trades at a market capitalization of over $ 45 billion, went public in June 2016 on the strength of communications infrastructure that allows businesses to reach their customers through text messaging, voice and video calls. The company counts the American Red Cross, delivery unicorn Deliveroo and Bank ing as customers.
The segment, a San Francisco partner company, was founded in 2012 and ranked 26th on the Cloud 100 list of the world’s leading private cloud companies this year. The company recently invested $ 175 million in a series led by Accel and GV, which were announced in April 2019 at a valuation of $ 1.5 billion. Excel did not respond to requests for comment. A GV spokesman said the firm “would not comment on rumors or speculation.”
A third source said the segment was recently considered open to takeover offers Forbes. The company, which appears to be one of Kovid-19’s technology winners, has a clear overlap with Twilio through its software tools, which also help customers connect with their customer base. The segment said that in September it worked with more than 20,000 businesses, including Intu, Fox and Levy, employing more than 550 people.
The segment counts four cofounders: Reinhardt, Ian Storm Taylor, Calvin French-Owen, and company president Ilya Volodarski. Apart from Excel and GV, other investors include Startup Accelerator Y Combinator, in which the segment participated in 2011, Thrive Capital, Claren Perkins and Meritech Capital Partners. The segment topped $ 283 million, according to the industry’s data provider Pitchbook.
The section insiders who set out to get Twilio shares can expect to repeat that history.
Additional reporting by David Jeans.