Twilio Expands Into Marketing With First New Product Born Of $3.2 Bn Acquisition Of Segment

Asia's Tech News Daily

From the patio of his house on a hill in San Francisco’s Noe Valley, Twilio chief executive officer Jeff Lawson gestures toward the massive Salesforce Tower that dominates the downtown skyline. He is differentiating Twilio from the industry giants in customer relationship management software that he soon plans to challenge.

Twilio Expands Into Marketing With First New Product Born Of $3.2 Bn Acquisition Of Segment

Unsplash

“The major difference between Twilio and everyone else is that everyone else is trying to sell you an app,” Lawson said. Founded in 2008, Twilio has grown to a $60 billion market cap business for cloud communications on the strength of its “building blocks” that allow developers to build apps tailored for their own businesses. Also known as APIs, they function as connective code which allows a developer to easily integrate different apps into their own product. “I think this is more realistic,” he said.

That philosophy is apparent inside Lawson’s house, where a couple dozen “Zoom cubes”—3D-printed boxes with switches and buttons to mute or end a meeting—lay just out of the frame of his neat Zoom backdrop. Lawson sometimes brings his two sons in on the soldering and coding in an attempt to instill in them the same builder’s mentality on which he’s hedging his business. His next bet: a decade-long plan to overturn CRM for consumer-oriented companies using even more building blocks.

Preparations began in early 2019 when Lawson approached Segment, a startup that clobbers together and analyzes data about a business’s customers, to consider an acquisition. The badgering went on for a year before Segment came to the table. “I started to notice customers using the same words that Jeff had been using,” shared Segment co-founder and then-chief executive officer Peter Reinhardt. Last October, Twilio acquired Segment for $3.2 billion.

The first fruits of the deal: a new product called Twilio Engage, which moves Twilio beyond its communications stronghold into the marketing space. Marketing was one of four potential sectors to move into that the San Francisco company identified in a presentation to investors on the benefits of the Segment deal, with the other three being customer service, product, and sales. Segment’s co-founder and former chief executive officer, Peter Reinhardt, says that in brainstorming after the acquisition, he and Lawson quickly realized that marketing was the logical first step forward.

“What we noticed is that most of the data that Segment brings to bear today is used for marketing, and most of the communications that Twilio sends are used for marketing. That became the most natural overlap point,” he shared.

Reinhardt, who continues to lead the Segment business within Twilio, says Lawson presented to him a vision of “customer engagement” that would unify Twilio’s tools for a company to send communications to its customers with Segment’s software to analyze customers’ data. Companies using Segment, meanwhile, had been Reinhardt for better ways to engage the customers from whom they were collecting data.

Twilio Engage, which is currently in pilot and slated to launch early next year, is designed to help marketers personalize the experiences of their consumers. The new tools are built on top of Segment and will allow consumer-facing companies to create personalization akin to Netflix’s algorithm for entertainment recommendations or the curated shopping suggestions that users see on Amazon, Lawson says.

“In some ways, the worst thing a company can do is send [customers] impersonalized interactions,” Lawson commented. “If you lose your voice to talk to your customer—if they hit that unsubscribe button—you really lost your customer relationship.”

Although Lawson wants to disrupt CRM, he maintains that Salesforce is not a direct competitor. Twilio is going after businesses that sell to consumers, not other businesses, he says. Still, big marketing clouds like Salesforce and Adobe have consumer-focused email marketing tools that Reinhardt believes are “not solving the problem anymore,” providing room for Twilio to swoop in.

The new product will continue Lawson’s longstanding vision of providing building blocks—now, developers will be able to build software for their marketing colleagues’ needs. It proved to be a seamless fit with Segment, which has also focused on an API model. But this building block approach has rapidly become the norm in the industry; for example, Salesforce paid $6.5 billion to acquire Mulesoft’s app-connecting software in 2018. Twilio’s entry puts it into the same space as companies like Salesforce, Adobe, and Treasure Data that are also trying to create a “360-degree customer experience” by corralling data from disparate sources, shared Daniel Newman, principal analyst of tech analyst firm Futurum Research. He notes that Twilio’s advantage may be in its early API pedigree, which has resulted in a robust ecosystem of developers already used to the company’s products, as well as its strong footing in communications software, particularly for messaging.

For consumers, Twilio Engage will allow them to see offerings that are personally relevant to their interests. It leverages Segment’s ability to create a profile of a customer from data such as purchase history and click path on a website, then uses those insights to tailor the website experience, emails, and messaging that the customer sees.

“We realized we had already done the hard parts,” Reinhardt noted. Segment had figured out how to collect and compute large data sets in real-time, while Twilio had unified a messy infrastructure network for communications. “So, let’s do the easier part now: stitch it together to bring the value through to the marketer, not just the developer.”

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Meta Forced To Sell Giphy After U.K. Regulator Pressure

Meta Platforms Inc (NASDAQ:FB) –formerly known as Facebook Inc– is facing a fresh setback in the U.K. as the country’s regulator decided to stop the company’s acquisition of Giphy, the ... Read more »

Moderna: Current Vaccines Not As Effective Against Omicron

Vaccines currently trying to fight COVID-19 may not be as effective against the omicron variant, warned the CEO of Moderna Inc (NASDAQ:MRNA) Stephane Bancel. He stated it is unlikely that ... Read more »

Extended Cyber Monday Discounts on 10 Apple Products

Apple has made a name for itself in small business. Offering powerful, flexible solutions for entrepreneurs and small businesses in all industries, Apple makes small business life easier. But Apple ... Read more »

I'm An Independent Musician Whose Music Has Appeared In TV, Movies, and Video Games. Here's How I Did It.

I am an independent rapper and songwriter. This means that I don’t have a giant record label or high-powered agent pushing my music into millions of ears. And yet, my ... Read more »

Uber's Global Head of Grocery on the 'Massive Shift in Consumer Demand' That's Driving Growth

This story was originally published by CO— by U.S. Chamber of Commerce and was written by Barbara Thau. Uber’s big growth vehicle has nothing to do with hailing a ride: The app’s grocery ... Read more »

Lululemon Hits Peloton With a Lawsuit for Its 'Knockoff' Designs

Last week, Peloton sued fellow athletic brand Lululemon after the latter threatened to take legal action if Peloton kept selling its new clothes. On Monday, Lululemon followed through on its ultimatum and filed ... Read more »

Redmi Note 10, other budget smartphones under the series go out of stock on Mi.com

To make way for the next generation, it seems like Xiaomi has limited the stock of the Redmi Note 10 series in India via its official channels. The upcoming Redmi ... Read more »

Vegan en Vogue: Here's Why Some of the Biggest Events of the Year are Nixing Meat from Their Menus

For nearly two years, virtually every cultural event has been canceled, or at least dramatically scaled back for the sake of COVID-19 safety precautions. After a year of parties and ... Read more »

Stephen Colbert Ribs Jeff Bezos and His 'Penis Rocket'

On Monday night, The Late Show host Stephen Colbert used his opening monologue to skewer consumer habits amid yet another holiday-shopping season. Michael M. Santiago | Getty Images Colbert wished his ... Read more »

Budweiser's First NFT Collection Sells Out Within an Hour

On Monday, Budweiser joined the non-fungible token craze with the launch of its first collection of unique pieces of digital art — depictions of beer cans that sold for hundreds of dollars ... Read more »

Want Your Charitable Donation to Actually Help Someone? 4 Questions to Ask Before You Give

U.S. wealth grew by $19 trillion since the start of the pandemic. Simultaneously, the pandemic pushed 150 million more people into poverty. This was the first increase in over two decades. ... Read more »

6 key actions to focus a team

Sometimes it is believed that the attitude is enough or that the desire is enough to achieve the results that are proposed. Thus, more than one leader trusts that having ... Read more »

'It's Just Human Nature:' A New Book Examines Why Our Work Is Better When We Work Less

In 2017, reporters Anne Helen Petersen and Charlie Warzel moved from New York City to Missoula, Mont., and started asking some existential questions. The couple — who both wrote for ... Read more »

3 Ways to Supercharge Your Time and Be More Productive Than Ever

Everyone has 24 hours in a day, but some people work harder at maximizing their time than others. Nasdaq CEO Bob Greifeld, for instance, changes clothes in his car. Inventor ... Read more »

The Man Running Govt's Own Startup

Starting Invest India was the most satisfying part of Deepak Bagla’s professional journey. The nodal agency which began in 2015 started functioning in 2016 effectively. In the words of Bagla, ... Read more »

Entrepreneurial Burnout: 6 Ways to Avoid And Overcome It

Burnout became an especially painful issue during the pandemic when the majority of people worked from home, finding it difficult to draw the line between work and private life. However, ... Read more »

Forget the "New Normal." There's No Normal in Marketing.

Over the past 18 months, companies navigating the pandemic have dealt with numerous changes to seemingly every facet of work. Beyond shifts in daily routines, work lives, and social behavior, ... Read more »

This Crypto-Fueled Internet Collective Raised More Than $40 Million to Buy a Rare Copy of the Constitution

The United States Constitution is more than just another document: It’s the foundation upon which this entire country has been built. In the most significant possible sense, it’s what attempts to ... Read more »

Your Top 4 Questions About 2022, Answered By the World's Top Superforecasters

You may have read our story about the forecasting company Good Judgment and its worldwide team of superforecasters. We wanted to put their expertise to use for our readers, so we asked ... Read more »

You Can't Do Everything. So Do the Best With What You Have.

Repeat after me: “I will do the best work with the resources available.” Nigel Parry This has become my mantra. It isn’t sexy. It doesn’t make for a great motivational ... Read more »

Why Jim Cramer Thinks Small Business Owners Can Do More Hiring Than Firing In 2022

When I look at small, private businesses,” says Jim Cramer, “I love to hear expansion plans. It is so exciting to me to hear expansion plans.” He believes the future ... Read more »

Meet the Elite Team of Superforecasters Who Have Turned Future-Gazing Into a Science

Before January 1, 2022, will the United States Olympic Committee announce that it is boycotting the 2022 Olympics? Nicolás Ortega I am in a virtual workshop that will test my ... Read more »

5 Things the Future Holds, According to the World's Most Elite Superforecasters

You may have read our story about the forecasting company Good Judgment and its worldwide team of superforecasters. Now it’s time to put them to the test. Nicolás Ortega Their crystal ball ... Read more »

6 Key Questions You Should Always Ask Before Investing in a Commercial Real-Estate Property

Commercial real estate is one of the most reliable investment opportunities. Many people build long-term wealth through their property investments. Cyrus McCormick, one of the wealthiest Chicagoans in history, made ... Read more »

The Use Of Recycled Plastics In Packaging Of Food And Drinks Needs To Be Re-Deliberated: Experts

LawWiser, India’s first video-only knowledge-sharing platform for the legal community, today released a consultation paper on ‘The Dilemma of Recycling Plastics in India’. The objective of this consultation paper is ... Read more »

Triterras (TRIT) Sees Hammer Chart Pattern: Time to Buy?

Triterras, Inc. TRIT has been struggling lately, but the selling pressure may be coming to an end soon. That is because TRIT recently saw a Hammer Chart Pattern which can ... Read more »

Is It Good Public Policy to Prop Up the Stock Market?

Should policymakers prop up the stock market when it appears to be in danger of crashing down? PIX1861 / Pixabay – Valuewalk Q3 2021 hedge fund letters, conferences and more ... Read more »

SM Energy (SM) Sees Hammer Chart Pattern: Time to Buy?

SM Energy Company SM has been struggling lately, but the selling pressure may be coming to an end soon. That is because SM recently saw a Hammer Chart Pattern which ... Read more »

Bull of the Day: Tyson Foods (TSN)

Tyson Foods (TSN) is a Zacks #1 (Strong Buy) that is the biggest U.S. chicken company. Tyson produces, distributes and markets chicken, beef, pork as well as prepared foods. – ... Read more »

4 Grocery Stocks to Buy as Omicron Variant Raises Fresh Fears

The coronavirus pandemic is far from over. Just when people were feeling confident after vaccination and stepping out of their homes or planning vacations, the Omicron variant of the coronavirus ... Read more »

Bear of the Day: Cracker Barrel Old Country Store (CBRL)

Cracker Barrel (CBRL) is a Zacks Rank #5 (Strong Sell) that is engaged in the ownership and operation of full-service restaurants with a restaurant and a retail store in the ... Read more »

2 Top Intimate Apparel Stocks to Buy, 2 to Sell

After suffering a downturn last year, the intimate apparel sector is in a rebuilding phase. The expansion of digital platforms, increase in consumer spending and pent-up demand for customized and ... Read more »

Romeo Power (RMO) Sees Hammer Chart Pattern: Time to Buy?

Romeo Power, Inc. RMO has been struggling lately, but the selling pressure may be coming to an end soon. That is because RMO recently saw a Hammer Chart Pattern which ... Read more »

Tyson Foods, Cracker Barrel, NIO, Royal Dutch Shell and Tesla highlighted as Zacks Bull and Bear of the Day

For Immediate Release Chicago, IL – November 30, 2021 – Zacks Equity Research Shares of Tyson Foods, Inc. TSN as the Bull of the Day, Cracker Barrel Old Country Store, ... Read more »

Buy This Tech Stock on the Dip Before Earnings for Big Growth?

Veeva Systems Inc. VEEV offers cloud-based solutions for the pharmaceutical and life sciences industries. The stock has crushed the broader tech sector over the last five years and its growth ... Read more »

Why You Should Add Kronos Worldwide (KRO) to Your Portfolio

Kronos Worldwide, Inc.’s KRO stock looks promising at the moment. The company’s shares have gained around 9% over the past three months. We are positive on the company’s prospects and ... Read more »

Beam Global (BEEM) Sees Hammer Chart Pattern: Time to Buy?

Beam Global BEEM has been struggling lately, but the selling pressure may be coming to an end soon. That is because BEEM recently saw a Hammer Chart Pattern which can ... Read more »

Zacks.com featured highlights include: Home Depot, CDW Corp, Landstar System and KLA Corp

For Immediate Release Chicago, IL – November 30, 2021 – Stocks in this week’s article are The Home Depot, Inc. HD, CDW Corporation CDW, Landstar System, Inc. LSTR and KLA ... Read more »

Why I Burned Down (And Rebuilt) My Online Business In 100 Days

Two steps forward, five steps back, one-and-a-half cartwheels, throw your back out, and then do it all over again tomorrow. That’s how this entrepreneurship thing works, right? If your answer ... Read more »

Lumos Alternate Investment, Gruhas Proptech To Raise INR 500 Crore Realty Fund

Gruha Proptech LLP and  Lumos Alternate Investment Advisors Pvt Ltd (Lumos) have joined hands to raise INR 500 crore for a real estate fund, focused on structured debt, last-mile funding ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic