Economy

Twilio to acquire startup Segment for $3.2B

Twilio to acquire startup Segment for $3.2B”

The transaction is anticipated to close in the fourth quarter of 2020.

In a statement, Twilio said the deal would accelerate its efforts to build the leading global customer engagement platform and offers a combined total addressable market of $79 billion. "Segment lets developers and companies break down those silos and build a complete picture of their customer". Segment has more than 550 employees and over 20,000 customers, including FOX, Intuit and Levi's.

On Monday, the firm used $3.2B of that sweet sweet $TWLO stock to buy Segment, a customer data firm. This platform allows organizations to move customer data from one application to another through an API, and use the platform to better control how the customer data travels through the systems.

Two sources familiar with the matter told Forbes that Twilio, which now has a market cap of around $44bn, has agreed to acquire Segment in a deal that is believed to be worth $3.2bn and is partially based on Twilio stock.

"By joining forces and applying our customer data platform to Twilio's engagement cloud, we'll be able to make the entire customer experience seamless from end-to-end", Segment co-founder and CEO Peter Reinhardt said.

US-based short-form video app Triller could be getting ready for an IPO.

More news: OnePlus co-founder Carl Pei leaves company for new hardware venture

This acquisition further reinforces this approach, Castanon said.

The presentation also provides a glimpse into the deal's financial details. Twilio hopes to replicate that success with Segment by promoting the startup's platform to its more than 200,000-strong customer base and enhancing its feature set with more product integrations.

Triller has a somewhat chequered - and slightly confusing - history with the ByteDance-owned phenomenon. ByteDance denied that it was in any talks with its rival.

Data-driven creative agency Osaka Labs has announced that it has acquired New Zealand-based ad agency Running With Scissors.

Commenting on the merger, founder and CEO of Osaka Labs Sam Gormely says "I firmly believe that injecting fresh blood into a company creates handsome friction, as new perspectives and unusual collaborations keep you agile and on the pulse".



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