Twilio Inc. priced its initial public offering at $15 a share Wednesday, above the expected range of $12 to $14. The San Francisco-based cloud communications company is seeking to raise around $160 million, which would value it above $1 billion. It will be the first venture-backed tech IPO since Square went public in November. The fast-growing company has posted hefty revenue gains the past three years, posting sales of $49.9 million in 2013, followed by $88.8 million in 2014 and $166.9 million in 2015. Goldman, Sachs & Co. and J.P. Morgan are the lead underwriters. Twilio will list on the New York Stock Exchange under the symbol “TWLO.”
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