Today, Twilio announced that it would set the price of its' first offering to the public at fifteen dollars per share. This values the firm at about $1.23 billion, which is over its' prior one billion dollar valuation from the previous financing round.

The firm expects to make about 150 million dollars, with an additional 1.5 million shares available for sale. Also, this is a bigger price than the twelve to fourteen dollars per share amount that the firm targeted in the past.

The Twilio IPO is important, because tech IPOs have dried up considerably in 2016. Concern has spread among many small businesses that have run into problems, due to the dearth of tech IPOs this year (Twilio is just the third of 2016). Most startups hope that Twilio will revitalize the tech IPO industry, with a good showing once trading starts tomorrow.