Activist Commentary: Sachem Head was founded in 2013 by Scott Ferguson. He was the first investment professional hired at Pershing Square, where he worked for nine years. Sachem Head has a history of solid value investing, but we believe that the firm really found its activist stride in 2020 with its investment in Olin. Ferguson took a board seat at Olin — the first public company board seat he took in an investment that was not part of a group — and created tremendous value there. More recently, after nomi ...

Twilio (TWLO) closed the most recent trading day at $60.08, moving -0.08% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.Coming into today, shares of the company had lost 1.68% in the past month. In that same time, the Computer and Technology sector gained 0.85%, while the S&P 500 gained 0.48%.The investment community will be closely monitorin ...

Activist Investor Pressure and Board Changes - Twilio has faced pressure from activist investors for nearly a year, leading to significant board changes, including the resignation of founder and CEO Jeff Lawson in January [1] - Anson Funds, an activist group, has been pushing for changes at Twilio, including an overhaul of the board structure [1] - Twilio announced a settlement with Sachem Head, granting a board seat to Andy Stafman, a partner at Sachem Head [1] - Byron Deeter, a prominent venture capitalist and early investor, will be leaving the board, and Twilio plans to declassify its board, making all directors up for reelection annually [2] Activist Criticism and Governance Issues - Anson portfolio manager Sagar Gupta criticized Twilio's recent board changes as insufficient to address governance issues and persistent underperformance [2] - Gupta stated that Twilio repeatedly rejected governance improvement proposals and only resolved issues under intense pressure [2] - Anson highlighted unspecified related-party transactions between Twilio and Deeter's employer, Bessemer, which were detrimental to Twilio stockholders [4] Financial Performance and Shareholder Actions - Twilio shares are down 21% for the year, while the Nasdaq is up almost 7% [3] - Anson and Legion Partners, each owning less than 0.5% of Twilio, have pushed for changes, including an expanded share buyback program and an operational review [3] - Twilio completed the operational review in March, deciding against selling the business unit, Segment, and authorized a smaller share buyback than activists sought [4] Historical Transactions and Continued Influence - In 2018, Twilio acquired SendGrid, backed by Bessemer, for $2 billion, with Deeter recusing himself from negotiations [5] - Despite Deeter's departure, Bessemer still has representation at Twilio through Jeff Epstein, the company's chairman and an operating partner at Bessemer [6] Ongoing Activist Campaigns - Sachem Head, managing $4 billion in assets, is waging two other activist campaigns in Europe and plans to nominate board candidates at Twilio [4] - Anson will scrutinize all matters related to Twilio's strategy, operations, and governance moving forward [4]

Loading...Loading...Twilio Inc TWLO stock is down about 20% year-to-date. The San Francisco-based company’s struggle persists with sluggish single-digit growth and increased customer turnover, compounded by leadership changes, including the departure of CEO Jeff Lawson. Throughout 2023, the cloud communications firm underwent a business overhaul, modifying its cost and capital structure. However, the start of 2024 saw further restructuring, marked by the founding CEO’s resignation and promises of strategic ...

The most recent trading session ended with Twilio (TWLO) standing at $60.95, reflecting a +0.1% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.23%.Shares of the company have appreciated by 7.47% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.54% and the S&P 500's gain of 1.5%.The upcomin ...

In the latest market close, Twilio (TWLO) reached $61.91, with a +0.52% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 0.89%. Meanwhile, the Dow experienced a rise of 1.03%, and the technology-dominated Nasdaq saw an increase of 1.25%.Prior to today's trading, shares of the company had gained 8.66% over the past month. This has outpaced the Computer and Technology sector's gain of 3.77% and the S&P 500's gain of 3.56% in that time.The upcoming earnings release of Twilio ...

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Twilio (TWLO -5.93%), once a growth-at-any-cost Wall Street darling, is remaking itself as a company focused on the bottom line. The communications software provider originally laid out a plan to become profitable on a GAAP (generally accepted accounting principles) basis by 2027. That target hinged on accelerating growth in the data and applications portion of the business, which excludes the core communications products.While Twilio succeeded in improving profitability in its mature lines of business, Seg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-K _____________________________________________ ____________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.001 per share TWLO New York Stock Exchange ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 1934 For the fiscal year ended December 31, 2023 ☐ TRANS ...

LOS ANGELES--(BUSINESS WIRE)--Legion Partners Asset Management, LLC, together with its affiliates (collectively, “Legion Partners”), which beneficially owns 601,050 shares, of Twilio Inc. (“Twilio” or the “Company”) (NYSE: TWLO) common stock, today sent a letter to the Company’s Board of Directors encouraging it to announce a strategic alternative process to sell the Segment business and immediately expand its stock buyback program by at least an additional $3 billion. The full text of the letter follows: ...