As I shared last month, IPO activity, particularly for tech companies, screeched to a halt at the start of the year.
In fact, not a single tech company went public in the first quarter.
But we’re finally starting to see signs of life…
In April, cyber-security firm SecureWorks Corp. (SCWX) priced its IPO at $14 per share.
Granted, the company originally planned to price shares in the $15.50 to $17.50 range, so it wasn’t a runaway success. But simply getting a tech IPO done – not to mention having share prices hang close to the deal price in the aftermarket – is undeniable progress.
Then, last week, Twilio – a cloud communications platform, which has raised $233 million in venture capital funding to date – publicly filed for an IPO. The company could go public before the end of June on the New York Stock Exchange under the ticker “TWLO.”
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