Twilio went public and the stock jumped more than 70% today. Let's check what services the company provides, look through their prospectus and make the final decision in terms of long-term investment.Business overview, market and competitorsTwilio was founded in 2007 and offers application programming interface (API) services that enable developers to add voice, video, text, and picture messaging to any app in a simple way. What does it mean? It means that if you run your own website - e-commerce, service provider or any other type of Internet related business, you need to have messaging features on your website in order to instantly communicate with your potential and current customers.Twilio gives you this opportunity and in a few clicks (not that simple, but still it's not difficult to put their code on your website). Overall VoIP market is expected to reach $136B by 2020, according to MarketWired. The main competitors of Twilio are:Nexmo that was acquired by Vonage one month ago;Layer that has raised more than $20M so far;MessageBird that has acquired three companies already.This field is really tough - a few big companies, a huge number of smaller ones. It would be a hard time for Twilio, because from the tech point of view - all those companies provide more or less the same service, so that everything depends on a price and positive customer experience. There are no doubts that Twilio is the largest one here so they have some sort of advantage in this race. FinancialsWhen I analyze such tech companies, the first thing that I pay attention to is a number of customers. It helps me to understand the unit-economics, check how much money the company makes from each customer and if they spend their marketing budgets efficiently. Twilio number of customers is constantly growing: 9 quarters CAGR is around 9.34%. Therefore we can calculate the average revenue per each customer or account. I used the company's CAGR in order to build the forecast for its Revenue and ARPA. I think that this approach is too rough, but when we analyze the tech companies that just went public, I don't want to get the numbers of growth and conversion from somewhere. As we all know, the most important aim for each business is to get profits, Twilio's unit economics shows us that the company could reach the operating breakeven by the end of next year. Once again, the most important assumption here is that the company will keep growing in-line with its CAGR. ConclusionTwilio is definitely a great company with breakthrough technology. But the company has too many competitors right now. Tech field is unpredictable, especially if we talk about 2-5 years forecast. I don't think that Twilio is either brilliant investment or waste of time. My brief analysis shows that the company needs to work on their margins to become profitable. UPD. Twilio's prospectus is right here.