Breaking the Tech IPO Drought
None of Silicon Valley’s famed “unicorns” went public for the first six months of 2016. VC funds seemingly dried up, which fueled concerns in North American tech hubs. It seemed no one would dare to brave the unpredictable market.
Enter Twilio, a fast-growing cloud communications platform with a developer-centric business model and an impressive list of innovative customers such as Uber, Lyft, Airbnb, Box and Coca Cola. The company turned heads with its S-1 filing and the tech community began buzzing about the year’s first IPO.
However, to achieve a successful NYSE listing and continue its aggressive growth trajectory, the company needed to shift from its developer-focused narrative to tell a larger story that resonated with business audiences and potential investors.
Setting the Stage
Highwire positioned Twilio as a company with strong leadership, a sound business model and industry-leading technology. We had set this strategy in motion from the beginning of our partnership (three years running at the time of filing) by examining issues, trends and determining the positioning that would explain Twilio’s technology and business model to a broader audience. We had also developed a concrete base of media relationships before quiet period restrictions impacted communications.
In addition, Highwire used measurement platforms to monitor relevant conversations, focus on the top-tier business media landscape, create more opportunities for executive profiles and uncover the key trends and potential narratives resonating within the industry.
In the post-S-1-filing quiet period, we turned our focus to Twilio’s customers, using their stories to highlight the company’s key offerings, capabilities and core technology.
The Big Payoff
As part of the IPO listing day communications strategy, Twilio conducted a live coding demo on the NYSE floor featuring its developers and customers to educate business audiences and the media.
Following the IPO, Highwire continued generating top business coverage by focusing on CEO profiles, including lessons from going public and the company’s continued momentum. Media coverage credited Twilio as an oasis in the tech IPO drought of 2016 and positioned the company as driving the next generation of innovative companies such as Uber and Airbnb.
- Forbes cover story
- Fortune’s 40 Under 40 profile
- Jeff Lawson awarded TechCrunch Crunchies’ Founder of the Year
- #8 on Fast Company’s most innovative companies list (#1 in the enterprise tech sector)
- 310% increase in YOY overall media coverage
- 552% increase in YOY business press coverage
- Stock price rose from $15 per share to as high as $70+ per share
- Captured 84% of industry share of voice; closest competitor was 7%
Telling the story of Twilio’s IPO didn’t happen overnight. Instead, it was the product of our strong partnership built over years. It proved what a PR program based on solid storytelling and thought leadership can do for one of the biggest moments in a company’s history and most importantly beyond.