Oct 16, 2018 - Economy & Business

Twilio to buy SendGrid for $2 billion in stock

Dan Primack, author of Pro Rata

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.

The bottom line: "Twilio’s current focus is on omnichannel communication, and email is obviously a major part of that. And while it offers plenty of services around voice, video and chat, email hasn’t been on its radar in the same way. This acquisition now allows it to quickly build up expertise in this area and expand its services there." — Frederic Lardinois, TechCrunch

Go deeper

Jacob Knutson
1 min ago - Politics & Policy

Marjorie Taylor Greene wins Georgia's 14th district runoff

Photo: Elijah Nouvelage / Getty Images

Gun-rights activist Marjorie Taylor Greene defeated physician John Cowan in a runoff election for the Republican nomination in Georgia's deep-red 14th Congressional District on Tuesday, AP reports.

Why it matters: Greene, a vocal QAnon conspiracy theorist who has been condemned by GOP leaders for making multiple offensive remarks about Black people, Jews and Muslims in Facebook videos, is likely to win a seat in the House come November.

Go deeper (1 min. read)Arrow
Axios
Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 20,207,011 — Total deaths: 738,910— Total recoveries: 12,452,222 — Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 5,140,512 — Total deaths: 164,502 — Total recoveries: 1,714,960 — Total tests: 63,252,257 — Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record — Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Go deeper (<1 min. read)Arrow
Axios
Updated 47 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand Prime Minister Jacinda Ardern said it's too early to say whether next month's elections will be postponed after she announced Tuesday four people had tested positive for COVID-19 after no local cases for 102 days.

Zoom in: NZ's most populous city, Auckland, has gone on lockdown for 72 hours and the rest of the country is under lesser restrictions.

Go deeper (2 min. read)Arrow