[ratling]

IMO this means nothing. Facebook did the same thing.

[mbesto]

Every large tech IPO in the last decade and a half has done the same thing.

[PKop]

Not Twilio, but generally you're probably right.

[notyourday]

Facebook was profitable or at least cashflow positive if I recall correctly.

[charlesdm]

And it still dropped more than 50% in the first year

[asaddhamani]

Had to be profitable.

[hangonhn]

VMware did too.