Cloud communications provider Twilio is looking forward to gaining the customer data startup Segment for a whopping amount of $3- $4 billion. The news was first reported on Forbes, and the buyout has a price tag of $3.2 billion. The purchase deal is on the rounds and will be announced soon. Twilio and Segment are leading API companies. The collaboration would mean that the companies would pave a straightforward way for developers to venture into a specific functionality without indulging in a lot of code writing process.
Twilio To Acquire Segment
Twilio’s primary focus after its launch in 2008 has always been to create and simple way to embed communications functionality into any provider app. It signaled a work into its goal when it unveiled the Flex customer service API in March 2018. In the same year, Twilio also purchased SendGrid for $2 million. SendGrid is an email marketing API company. Twilio’s market value as of recent is around a stupendous $45 billion. The company also extended its financial outlook to combine Twilio’s core API mission, specifically Flex, with the capability to pull in customer data with Segment and also make customized email or ads with SendGrid.
Twilio Buys Cloud Customer Data Startup
This collaboration will also enable Twilio to expand its wings beyond pure core communications capabilities. This could come at the cost of almost $5 billion for the two companies, which is a good deal for making it a substantial business venture in the future. This move would also be helpful as nowadays organizations look for ways to understand and communicate with their customers more easily and effectively across multiple channels.
Segment was founded in 2011 and so far garnered more than $283 million. Its most recent profit was $175 million in April on a $1.5 billion valuation deal. Segment gives sets of APIs to bring in customer data from across unique sources. Segment earned a name for itself by giving APIs that enables the company to gather data about a customer from unique sources like CRM tools, customer service application, and various websites. It then processes and pulls in all the data together into a single view of the customer, something which every organization seeks to. Segment believes that a traditional CRM isn’t much strong for an enterprise to manage its pipe and customers. Segment company entered this to provide customer data infrastructure to organizations to enable them to offer a more unified and enriched experience. After collaborating with Twilio, Segment can now continue to establish key integrations, which is being used globally in leading companies.
Twilio is a leading US based cloud communications platform company that offers software developers solutions to programmatically conduct and receive phone calls, send and receive text messages, and perform other effective communication functions with the APIs.