> I don't see any information on Twilio's net expenditures. Am I missing something? Whats more important than net expenditures is CAC/LTV/Churn, etc. I would e

> I don't see any information on Twilio's net expenditures. Am I missing something? Whats more important than net expenditures is CAC/LTV/Churn, etc. I would expand more but it's more eloquently put here: http://a16z.com/2014/05/13/understanding-saas-valuation-primer/ http://a16z.com/2014/05/13/understanding-saas-valuation-prim... People often forget that many of the companies featured here on HN are venture businesses which means their returns are high risk-high return financial structures, and their profits are being predicated on EXTREMELY profitable business models coughFB/Googlecough. > Also, how many customers do they have who pay them more than 100-250K/year? Where are these "big deals" coming from? Take a company like Mavenlink or Basecamp who might be bringing in $50-$150mil in revenue every year. They would easily be coughing out $250k+ on Twilio. No idea if those companies use Twilio specifically, but it's foreseeable many CRM/PM tools would.