San Francisco-based Twilio, which provides phone and text message services to app developers, has filed for an IPO – in a year that’s seen only one new tech company actually debut on the public markets.
Twilio will list on the New York Stock Exchange with the symbol “TWLO.”
In its IPO prospectus filed on Thursday, Twilio reports that it’s not profitable, generating a $35.5 million net loss on $166 million in revenue in 2015. The company’s revenue grew 88% between 2014 and 2015.
Twilio says that it’s actively investing in growth, with 28,000 active customer accounts in the quarter ending March 31st, 2016. Companies like Uber and Nordstrom rely on Twilio’s service to send text messages and make automated phone calls to customers.
The filing says that Twillio will seek to raise $100 million, though that amount is typically just a placeholder that is likely to increase as the company nears its public market debut.
Founded in 2008, Twilio has raised $233 million in venture capital in its lifetime, from investors including Salesforce Ventures, Amazon, and Chris Sacca’s Lowercase Capital. Twilio had most recently raised $130 million in a July 2015 round led by T. Rowe Price.
It’s been a very slow year for tech IPOs, with Dell spin-off SecureWorks’s April IPO the only offering so far. Security software company Blue Coat Systems has filed a confidential IPO prospectus and is close to kicking of an initial public offering, Business Insider reported earlier this week.