October 12, 2020 | technology | No Comments
Twilio (TWLO) – Get Report shares rose Monday after the cloud-communications platform said it would buy customer-data platform Segment for $3.2 billion of stock.
Twilio shares recently traded at $322.79, up 5.4%. They had more than tripled year to date through Friday.
“Data silos destroy great customer experiences,” Jeff Lawson, co-founder and chief executive of the San Francisco company, said in a statement.
Closely held Segment, also San Francisco, “lets developers and companies break down those silos and build” complete pictures of customers.
“Combined with Twilio’s customer engagement platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales,” he said.
“The businesses that deliver the best experiences are the ones that know their customers well and use customer data to provide more relevant interactions,” Twilio said.
“However, wrangling these customer insights is extremely difficult as the information is typically spread