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Twilio Aims to Raise $140 Million After Slow Start for Tech IPOs

  • Offering would be second VC-backed U.S. IPO so far this year
  • While revenue is up, web tools maker has yet to turn profit

Public market investors may finally get a chance to get their hands on an up-and-coming technology stock in the proposed initial public offering of web and mobile applications tools maker Twilio Inc.

The Bessemer Venture Partners-backed company set a price range from $12 to $14 for 10 million Class A shares in a regulatory filing Monday, seeking to raise as much as $140 million at the high end of the range. If the San Francisco-based company completes its offering, it would be only the second venture capital-backed technology or communications company to go public in the U.S. this year, according to data compiled by Bloomberg.