Twilio begins operational review of activist-targeted business unit
Summary
Twilio announced alongside its fiscal fourth quarter earnings on Wednesday it would begin an operational review of an underperforming business unit that has been scrutinized by shareholder activists to "identify the appropriate path forward" The company also said it had recorded a $286 million impairment related to the business unit, which it was also renaming back to Segment. The first activist campaign kicked off shortly after founder Jeff Lawsons supervoting share block expired. Shipchandler at the time said the company would take a "fresh look at the areas of the business that are underperforming to realize" Twilios full potential. Twilio, which makes tools to help businesses stay in contact with their customers, will also announce its full-year guidance alongside the results of the operational review sometime in March. • Three stocks that could replace Tesla in the Magnificent 7 • Vanguard launches two new ETFs to hit this sweet spot of tax-free fixed income • Berkshire Hathaway topped $600,000 a share last week, aiming at $1 trillion market value
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