2023-11-28 10:51:11 ET
Twilio Inc (NYSE: TWLO) is in the green this morning after an activist investor was reported to have taken a stake in the provider of cloud communication platforms.
Anson Funds wants Twilio to find a buyer
Anson Funds wants the technology company to consider selling the entire business, as per “ The Information ”.
The alternative asset management company has put in about $50 million in Twilio Inc over the past two months. A spokesperson of the New York listed firm told CNBC on Tuesday:
Twilio regularly engages with shareholders and appreciates constructive input that furthers our goal of creating sustainable long-term value.
The news arrives only weeks after Twilio reported solid results for its third financial quarter and issued upbeat guidance for the future. Its shares have rallied more than 25% over the past thirty days.
Watch here: https://www.youtube.com/embed/TSzol4D4USo?feature=oembedAnson Funds met with Twilio Inc’s board
In February, Twilio Inc acted on input from shareholders and reorganized into two segments: Data & Applications and Communications.
But Anson Funds now wants it to divest the data and applications unit (at least) if it fails to find a strategic buyer for the entire business.
The hedge fund built a position in Twilio after onboarding Sagar Gupta who has previously served at Legion Partners that also recently pushed the California-based company for board changes and divestitures as Invezz reported here .
Gupta has had nine meetings in total with its board since last year. Wall Street current has a consensus “overweight” rating on .
Introducing Twilio’s AI Startup Searchlight ? We are celebrating startups globally that are using Generative AI and Twilio to enhance communications & customer experiences for their end users.
— twilio (@twilio) October 25, 2023
Nominate a startup today ¿¿ https://t.co/z2x7u23wip pic.twitter.com/J2eWiTuLHs
The post Anson Funds has reportedly built a stake in Twilio appeared first on Invezz