AMSTERDAM (Reuters) – Privately held Dutch cloud communications software company MessageBird said on Thursday it has rebranded as “Bird” and is cutting prices to well below those of U.S. rival Twilio in a bid to win market share.
“Today we are … taking our margins to zero,” CEO Robert Vis said in a blog post on the company’s new domain
A spokesperson said the company could not comment beyond the blog statement.
Bird helps companies manage their communications with consumers via all channels — messaging apps, phone calls, video calls, online chats and email.
A source familiar with the company said Bird registered EBITDA, or earnings before interest, taxes, depreciation and amortization, of around 80 million euros ($87 million)in 2023. The company is weighing an IPO on the Euronext stock exchange in 2024 or 2025.
In 2021 Bird raised $800 million from investors including Eurazeo, Tiger Global and Owl Rock and purchased email giant SparkPost in a deal worth $600 million.
($1 = 0.9200 euros)
(Reporting by Toby Sterling; Editing by Susan Fenton)
Comments