From the SSI weekly newsletter this week: ‘Twilio had a couple of significant announcements last week as well. First, Twilio Programmable Video is powering the Dialer Video product from Doximity. This provides a secure and reliable video call between physicians and patients through a smartphone app. Over 100,000 U.S. physicians are using the Doximity app for telemedicine visits. Tucked into the press release, Twilio highlighted significant growth in use of their programmable video product. Tucked into the press release, Twilio highlighted significant growth in use of their programmable video product. They noted a 540% year/year increase in weekly minutes and a 100% increase in overall use of their platform by healthcare customers.
Additionally, Twilio announced the acquisition of Electric Imp on July 9th. Electric Imp provides a platform that makes it easier for businesses to securely connect IoT devices to software in their data centers and third-party services. Electric Imp abstracts away the maintenance of IoT networks, by managing software updates and security. The move should help expand Twilio’s offerings in the IoT space, which they have highlighted in the past as a large future growth opportunity. Though not directly related, the next day KeyBanc raised their price target for Twilio to $270.’