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Run the Numbers
E36: The IPO Playbook: Expert Advice from Lee Kirkpatrick, Twilio’s Former CFO
Feb 5, 2024
Lee Kirkpatrick, former CFO of Twilio, shares his experience leading Twilio through its IPO. He discusses the preparations, roadshows, and decisions made during the process. Topics include selecting bankers, determining the offering price, optimizing IPO price, choosing lead bankers, first earnings call as a public CFO, the importance of forecasting, and a funny expense report mishap.
47:46
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Quick takeaways
- Strategic hires, like a world-class controller and general counsel, serve as early indicators of a company's readiness for an IPO.
- Setting the initial offering price for an IPO requires considering factors like market conditions, availability of stock, and balancing long-term relationships with investors.
Deep dives
Preparing for the IPO: Picking the Right Team and Timing
Lee Kirkpatrick, the former CFO of Twilio, discusses the process of preparing for an initial public offering (IPO). He highlights the importance of making strategic hires, such as a world-class controller and general counsel, as early indicators of going public. The preparation process started 18 months before the target IPO date, with a focus on setting up a rigorous and systematic checklist. Kirkpatrick emphasizes the need to have a checklist of potential red flags that could hinder a successful IPO, such as single points of failure or technical issues that need to be resolved before going public.
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