Twilio Inc. TWLO,
announced on Thursday afternoon that it is expected to sell $ 1 billion in new shares, after the stock moved to a record high after a strong earnings report. Shares fell 2.5% in after-hours trading, after rising 7.7% in the ordinary session to a record $ 443.49. The San Francisco software company reported Wednesday afternoon that revenue rose 65% in the fourth quarter, up $ 500 million over the three-month period. Twilio was listed at $ 15 per share in 2016 and the company is valued at approximately $ 1.2 billion; Twilio’s market capitalization reached $ 65 billion for the first time on Thursday. The company did not announce a price for the shares, but did say it could sell up to $ 150 million more than its $ 1 billion target.
