Twilio files paperwork for $400 million secondary offering

Twilio has filed paperwork with the U.S. Securities and Exchange Commission to raise an additional $400 million from the public market. The company said that it will not receive any proceeds from this transaction and that the majority of the shares will be Class A common stock and come from existing shareholders.
Goldman Sachs and J.P. Morgan Securities have been retained as the joint book-running managers for the offering — the same financial institutions that backed its initial public of