Deals

Twilio to buy SendGrid for $2 billion in stock

Jeff Lawson, founder, CEO and chairman of Twilio talking on a stage with blue back lighting
Jeff Lawson, founder, CEO and chairman of Twilio. Photo: Joan Cros Garcia/Corbis via Getty Images

Twilio (NYSE: TWLO) agreed to buy Denver-based email marketing company SendGrid (NYSE: SEND) for around $2 billion in stock, which works out to an implied price of $36.92 per share (19% premium to Monday's closing price for SendGrid).

Why it matters: Email continues to not be dead, despite all punditry to the contrary.

Sources: Allbirds is profitable

Allbirds

Hipster sneaker maker Allbirds last week announced $50 million in new funding led by T. Rowe Price, at a unicorn valuation. Axios has learned a bit more, per multiple sources:

  • The $50 million is primary capital, but the round also included an undisclosed amount of secondary funding — pushing the overall haul into nine-digit territory.
  • The San Francisco-based company was profitable in both 2016 and 2017. Revenue jumped from $16 million in 2016 to around $80 million in 2017, with around $150 million estimated for this year.