<SEC-DOCUMENT>0001193125-24-004000.txt : 20240108
<SEC-HEADER>0001193125-24-004000.hdr.sgml : 20240108
<ACCEPTANCE-DATETIME>20240108091132
ACCESSION NUMBER:		0001193125-24-004000
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20240107
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20240108
DATE AS OF CHANGE:		20240108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TWILIO INC
		CENTRAL INDEX KEY:			0001447669
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				262574840
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37806
		FILM NUMBER:		24518621

	BUSINESS ADDRESS:	
		STREET 1:		101 SPEAR STREET
		STREET 2:		SUITE 500
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94105
		BUSINESS PHONE:		415-390-2337

	MAIL ADDRESS:	
		STREET 1:		101 SPEAR STREET
		STREET 2:		SUITE 500
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94105
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d551551d8k.htm
<DESCRIPTION>8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" ?>
<html xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:us-types="http://fasb.org/us-types/2023" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:twlo="http://www.twilio.com/20240107" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns="http://www.w3.org/1999/xhtml">
<head>
<title>8-K</title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
   <body><div style="display:none"> <ix:header> <ix:hidden> <ix:nonNumeric id="Hidden_dei_EntityRegistrantName" name="dei:EntityRegistrantName" contextRef="duration_2024-01-07_to_2024-01-07">TWILIO INC</ix:nonNumeric> <ix:nonNumeric name="dei:AmendmentFlag" contextRef="duration_2024-01-07_to_2024-01-07">false</ix:nonNumeric> <ix:nonNumeric id="Hidden_dei_EntityCentralIndexKey" name="dei:EntityCentralIndexKey" contextRef="duration_2024-01-07_to_2024-01-07">0001447669</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:type="simple" xlink:href="twlo-20240107.xsd" xlink:arcrole="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase"></link:schemaRef> </ix:references> <ix:resources> <xbrli:context id="duration_2024-01-07_to_2024-01-07"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0001447669</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2024-01-07</xbrli:startDate> <xbrli:endDate>2024-01-07</xbrli:endDate> </xbrli:period> </xbrli:context> </ix:resources> </ix:header> </div> <div style="text-align:center"> <div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto"> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p> <p style="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">UNITED STATES</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">SECURITIES AND EXCHANGE COMMISSION</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Washington, D.C. 20549</p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">FORM <span style="white-space:nowrap"><ix:nonNumeric name="dei:DocumentType" contextRef="duration_2024-01-07_to_2024-01-07">8-K</ix:nonNumeric></span></p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">CURRENT REPORT</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Pursuant to Section&#160;13 or 15(d)</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">of the Securities Exchange Act of 1934</p> <p style="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Date of Report (Date of earliest event reported): <ix:nonNumeric name="dei:DocumentPeriodEndDate" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt:datemonthdayyearen">January&#160;7, 2024</ix:nonNumeric></p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:8pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman;font-weight:bold;text-align:center"> <span style=" -sec-ix-hidden:Hidden_dei_EntityRegistrantName">Twilio Inc.</span> </p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Exact name of registrant as specified in its charter)</p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:8pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:34%"></td>
<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:stateprovnameen">Delaware</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><span style="white-space:nowrap"><ix:nonNumeric name="dei:EntityFileNumber" contextRef="duration_2024-01-07_to_2024-01-07">001-37806</ix:nonNumeric></span></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><span style="white-space:nowrap"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="duration_2024-01-07_to_2024-01-07">26-2574840</ix:nonNumeric></span></span></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(State or other jurisdiction</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">of incorporation)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Commission</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">File Number)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(IRS Employer</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Identification No.)</p></td></tr></table> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressAddressLine1" contextRef="duration_2024-01-07_to_2024-01-07">101 Spear Street</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressAddressLine2" contextRef="duration_2024-01-07_to_2024-01-07">Fifth Floor</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressCityOrTown" contextRef="duration_2024-01-07_to_2024-01-07">San Francisco</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:stateprovnameen">California</ix:nonNumeric> <ix:nonNumeric name="dei:EntityAddressPostalZipCode" contextRef="duration_2024-01-07_to_2024-01-07">94105</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Address of principal executive offices, including zip code)</p> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:CityAreaCode" contextRef="duration_2024-01-07_to_2024-01-07">(415)</ix:nonNumeric> <span style="white-space:nowrap"><ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="duration_2024-01-07_to_2024-01-07">390-2337</ix:nonNumeric></span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Registrant&#8217;s telephone number, including area code)</p> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">Not Applicable</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Former name or former address, if changed since last report)</p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <span style="white-space:nowrap">8-K</span> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p> <p style="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:WrittenCommunications" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></table> <p style="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:SolicitingMaterial" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Soliciting material pursuant to Rule <span style="white-space:nowrap">14a-12</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14a-12)</span></p></td></tr></table> <p style="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementTenderOffer" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">14d-2(b)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14d-2(b))</span></p></td></tr></table> <p style="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">13e-4(c)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.13e-4(c))</span></p></td></tr></table> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&#160;12(b) of the Act:</p> <p style="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:8pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:34%"></td>
<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Title of each class</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Symbol(s)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of each exchange</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">on which registered</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:Security12bTitle" contextRef="duration_2024-01-07_to_2024-01-07">Class&#160;A Common Stock, par value $0.001 per share</ix:nonNumeric></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2024-01-07_to_2024-01-07">TWLO</ix:nonNumeric></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></td></tr></table> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule <span style="white-space:nowrap">12b-2</span> of the Securities Exchange Act of 1934 (17 CFR <span style="white-space:nowrap">&#167;240.12b-2).</span></p> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:right">Emerging growth company&#160;&#160;<ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="duration_2024-01-07_to_2024-01-07" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act.&#160;&#160;&#9744;</p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p></div></div>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">

<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;2.02</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Results of Operations and Financial Condition. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&#160;8, 2024, Twilio Inc. (the &#8220;<span style="text-decoration:underline">Company</span>&#8221;) issued a press release announcing that it expects to report revenue and <span style="white-space:nowrap">non-GAAP</span> income from operations for the fourth quarter ended December&#160;31, 2023 and <span style="white-space:nowrap">non-GAAP</span> income from operations for the fiscal year ended December&#160;31, 2023 above the guidance ranges provided in its earnings press release furnished as Exhibit 99.1 to the Current Report on Form <span style="white-space:nowrap">8-K</span> filed with the SEC on November&#160;8, 2023. A copy of the press release is furnished herewith as Exhibit 99.1. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information furnished in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended (the &#8220;<span style="text-decoration:underline">Exchange Act</span>&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any other filing under the Securities Act of 1933, as amended (the &#8220;<span style="text-decoration:underline">Securities Act</span>&#8221;), or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.02</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="font-style:italic">Resignation of Jeff Lawson and Appointment of Khozema Shipchandler as CEO and Director </span></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&#160;7, 2024, Jeff Lawson resigned as the Company&#8217;s Chief Executive Officer (&#8220;<span style="text-decoration:underline">CEO</span>&#8221;) and as a member of the Company&#8217;s Board of Directors (the &#8220;<span style="text-decoration:underline">Board</span>&#8221;) and as Board Chair, in each case, effective January&#160;8, 2024. Mr.&#160;Lawson&#8217;s decision to resign from the Board did not result from any disagreement with the Company on any matter relating to the Company&#8217;s operations, policies or practices. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&#160;7, 2024, the Board appointed Khozema Shipchandler, the Company&#8217;s President, Twilio Communications, as CEO of the Company and as a member of the Board, effective January&#160;8, 2024 (the &#8220;<span style="text-decoration:underline">CEO Transition</span>&#8221;). Mr.&#160;Shipchandler will serve in the class of directors whose term expires at the Company&#8217;s 2024 annual meeting of stockholders. Mr.&#160;Shipchandler will not be entitled to compensation in connection with his Board service and will cease serving as President, Twilio Communications upon his promotion to CEO. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&#160;Shipchandler, age 49, has served as the Company&#8217;s President, Twilio Communications since March 2023. Previously, Mr.&#160;Shipchandler served as the Company&#8217;s Chief Operating Officer from 2021 to 2023 and the Company&#8217;s Chief Financial Officer from 2018 to 2021. From 2015 to 2018, Mr.&#160;Shipchandler served as Chief Financial Officer and Executive Vice President of Corporate Development at GE Digital, an operational technology and infrastructure software company that is a division of General Electric. From 1996 to 2015, Mr.&#160;Shipchandler served in various executive roles at General Electric, including as Chief Financial Officer, Middle East, North Africa and Turkey from 2011 to 2013. Mr.&#160;Shipchandler has served on the board of directors of Smartsheet Inc., an enterprise software company, since June 2023. Mr.&#160;Shipchandler holds a B.A. in English and Biology from Indiana University Bloomington. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&#160;Shipchandler does not have family relationships with any of the Company&#8217;s other directors or executive officers. There are no other arrangements or understandings between Mr.&#160;Shipchandler and any other person pursuant to which Mr.&#160;Shipchandler was selected as the Company&#8217;s CEO or as a director. Mr.&#160;Shipchandler has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation <span style="white-space:nowrap">S-K.</span> </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="font-style:italic">Shipchandler Offer Letter </span></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the CEO Transition, the Compensation and Talent Management Committee approved the terms of an offer letter (the &#8220;<span style="text-decoration:underline">Shipchandler Offer Letter</span>&#8221;), which the Company entered into with Mr.&#160;Shipchandler on January&#160;7, 2024, setting forth the terms of his employment and compensation. Pursuant to the Shipchandler Offer Letter, effective January&#160;8, 2024, Mr.&#160;Shipchandler will receive a base salary of $1,100,000 per year, consistent with his existing salary, and will have an initial target bonus opportunity equal to 100% of his base salary, subject to the achievement of corporate and individual bonus objectives set by the Board or Compensation and Talent Management Committee. In addition, Mr.&#160;Shipchandler will receive an award of restricted stock units with an aggregate value of approximately $10,000,000 (the &#8220;<span style="text-decoration:underline">RSU Award</span>&#8221;) and an award of performance stock units with an aggregate value of approximately $15,000,000 (the &#8220;<span style="text-decoration:underline">PSU Award</span>&#8221;). The RSU Award will vest in equal quarterly installments over four years, subject to </p>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Mr.&#160;Shipchandler&#8217;s continued employment with the Company through each vesting date. The RSU Award and PSU Award will be granted under the Company&#8217;s Amended and Restated 2016 Stock Option and Incentive Plan and forms of award agreements thereunder, with the performance-based metrics of the PSU Award to be determined by the Board or Compensation and Talent Management Committee when the PSU Award is granted. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary of the Shipchandler Offer Letter does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Shipchandler Offer Letter, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&#160;Shipchandler will also participate in the Amended Chief Executive Officer Severance Plan (the &#8220;<span style="text-decoration:underline">CEO Severance Plan</span>&#8221;), a copy of which was previously filed on February&#160;23, 2023 as Exhibit 10.2 to the Company&#8217;s Current Report on Form <span style="white-space:nowrap">8-K.</span> The CEO Severance Plan provides that if Mr.&#160;Shipchandler&#8217;s employment is terminated by the Company for any reason other than for Cause (as defined in the CEO Severance Plan), death or disability or by Mr.&#160;Shipchandler for Good Reason (as defined in the CEO Severance Plan), in each case outside of the change in control period (the period beginning three months prior to and ending 12 months after a Change in Control (as defined in the CEO Severance Plan)), Mr.&#160;Shipchandler will be entitled to receive, subject to the execution and effectiveness of a general release of claims in favor of the Company, (1)&#160;a lump sum cash payment equal to 18 months of base salary, (2)&#160;if Mr.&#160;Shipchandler was participating in the Company&#8217;s group health plan immediately prior to the date of termination and elects COBRA health continuation, a monthly cash payment equal to the monthly employer contribution that the Company would have made to provide health insurance to Mr.&#160;Shipchandler if he had remained employed, for up to 18 months, and (3)&#160;an additional 12 months of vesting credit with respect to Mr.&#160;Shipchandler&#8217;s outstanding and unvested equity awards that are subject only to time-based vesting. The CEO Severance Plan also provides that if Mr.&#160;Shipchandler&#8217;s employment is terminated by the Company for any reason other than for Cause, death or disability or by Mr.&#160;Shipchandler for Good Reason, in each case within the change in control period, Mr.&#160;Shipchandler will be entitled to receive, in lieu of the payments and benefits above and subject to the execution and effectiveness of a general release of claims in favor of the Company, (1)&#160;a lump sum cash payment equal to 24 months of base salary, (2)&#160;if Mr.&#160;Shipchandler was participating in the Company&#8217;s group health plan immediately prior to the date of termination and elects COBRA health continuation, a monthly cash payment equal to the monthly employer contribution that the Company would have made to provide health insurance to Mr.&#160;Shipchandler if he had remained employed, for up to 24 months, and (3)&#160;full accelerated vesting of all outstanding and unvested equity awards held by Mr.&#160;Shipchandler; provided, that any unvested and outstanding equity awards subject to performance conditions will be deemed satisfied at the target levels specified in the applicable award agreements. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&#160;Shipchandler previously entered into the Company&#8217;s standard form of indemnification agreement, a copy of which has previously been filed on February&#160;26, 2021, as Exhibit 10.1 to the Company&#8217;s Annual Report on Form <span style="white-space:nowrap">10-K.</span> </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="font-style:italic">Lawson Separation Agreement </span></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company entered into a separation agreement with Mr.&#160;Lawson (the &#8220;<span style="text-decoration:underline">Lawson Separation Agreement</span>&#8221;) in connection with his resignation as CEO. The Lawson Separation Agreement contains a customary release of claims and as consideration for the agreement provides that Mr.&#160;Lawson will (1)&#160;receive a lump sum cash payment equal to $99,840, (2) have his outstanding and unvested equity awards covering 68,124 shares of Class&#160;A common stock that are subject to time-based vesting immediately vest in full and, if applicable, become exercisable as to 100% of those awards, (3)&#160;receive an extension of the exercise period of his vested stock options until the earliest to occur of: (i)&#160;the three-year anniversary of his separation date, (ii)&#160;the applicable expiration date of the applicable stock option, or (iii)&#160;such earlier date as provided or permitted under the applicable equity plan, and (4)&#160;be eligible for cash payments equal to 18 months of the employer portion of Mr.&#160;Lawson&#8217;s monthly COBRA premiums. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary of the Lawson Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Lawson Separation Agreement, a copy of which is attached hereto as Exhibit 10.2 and is incorporated by reference. </p> <p style="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&#160;</p>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">

<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;7.01</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Regulation FD Disclosure. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&#160;8, 2024, the Company issued a press release announcing the Company leadership changes described herein. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information contained herein and in the accompanying exhibit are &#8220;furnished&#8221; and shall not be deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference in any filing under the Securities Act, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;8.01</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Other Events. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="font-style:italic">Board Chair Appointment </span></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with Mr.&#160;Lawson&#8217;s departure from the Board, the Board has appointed Jeff Epstein as Board Chair, effective January&#160;8, 2024. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;9.01</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td></td>

<td style="vertical-align:bottom;width:4%"></td>
<td style="width:93%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br />No.</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Exhibit Description</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">10.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d551551dex101.htm">Offer Letter between the Company and Khozema Shipchandler, dated January&#160;7, 2024. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">10.2</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d551551dex102.htm">Separation Agreement and Release between the Company and Jeff Lawson, dated January&#160;7, 2024. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d551551dex991.htm">Press Release issued by Twilio, dated January&#160;8, 2024. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Data File (formatted as Inline XBRL)</td></tr>
</table> <p style="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&#160;</p>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">SIGNATURES </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0">


<tr>

<td style="width:44%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:4%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:5%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:44%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" colspan="3"><span style="font-weight:bold">TWILIO INC.</span></td></tr>


<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">January&#160;8, 2024</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Aidan Viggiano</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Aidan Viggiano</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Title:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Chief Financial Officer</td></tr>
</table>
</div></div>

</body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d551551dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g551551g0108040618816.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">January&nbsp;7, 2024 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Khozema Shipchandler </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Re: <U>EMPLOYMENT
AGREEMENT</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Khozema: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
Employment Agreement (the &#147;<B><I>Agreement</I></B>&#148;) between you (referred to hereinafter as &#147;<B><I>Executive</I></B>&#148;) and Twilio Inc., a Delaware Corporation (the &#147;<B><I>Company</I></B>&#148;) sets forth the terms and
conditions that shall govern Executive&#146;s employment with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. <U>Duties and Scope of Employment</U>. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <B><U><FONT STYLE="white-space:nowrap">At-Will</FONT> Employment</U></B>. Executive&#146;s Employment with the Company will continue to be
for no specified period and constitutes &#147;at will&#148; employment. As a result, Executive is free to terminate employment with the Company (&#147;<B><I>Employment</I></B>&#148;) at any time, with or without advance notice, and for any reason or
for no reason. Similarly, the Company is free to terminate Executive&#146;s Employment at any time, with or without advance notice, and with or without cause. Furthermore, although terms and conditions of Executive&#146;s Employment with the Company
may change over time, nothing shall change the <FONT STYLE="white-space:nowrap">at-will</FONT> nature of Executive&#146;s Employment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)
<B><U>Position and Responsibilities</U></B><B>.</B> The Company agrees to employ Executive in the position of Chief Executive Officer. Executive will report to the Company&#146;s Board of Directors (the &#147;<B><I>Board</I></B>&#148;), and
Executive will be working out of the Company&#146;s office in San Francisco and from Executive&#146;s home office in California. Executive will perform the duties and have the responsibilities and authority customarily performed and held by an
employee in Executive&#146;s position or as otherwise may be assigned or delegated to Executive by the Board. The effective date of Executive&#146;s new role will be <B>January</B><B></B><B>&nbsp;8, 2024 </B>(the &#147;<B><I>Start
Date</I></B>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <B><U>Obligations to the Company</U></B><B>.</B> Executive shall perform Executive&#146;s duties in his new role
loyally and conscientiously and to the best of Executive&#146;s ability and will devote Executive&#146;s full business efforts and time to the Company. Without the prior written approval of the Board, Executive shall not render services in any
capacity to any other person or entity and shall not act as a sole proprietor or partner of any other person or entity or own more than five percent (5%) of the stock of any other corporation. Notwithstanding the foregoing, Executive may serve on
civic or charitable boards or committees, deliver lectures, fulfill speaking engagements, teach at educational institutions, or manage personal investments without advance written consent of the Board; provided that such activities do not
individually or in the aggregate interfere with the performance of Executive&#146;s duties under this Agreement or create a potential business or fiduciary conflict, and provided that they have been approved through the Company&#146;s outside
activities disclosure process. Executive shall comply with the Company&#146;s policies and rules and standards </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of conduct, as they may be in effect from time to time during Executive&#146;s Employment, including but not limited to the Company&#146;s Code of Conduct, Employee Handbook, data protection
policy, and information security policy, each as updated from time to time. Executive must only process personal data relating to the Company&#146;s staff, customers, <FONT STYLE="white-space:nowrap">end-users,</FONT> suppliers and other third
parties as necessary for the performance of Executive&#146;s role and must protect the confidentiality of that personal data at all times. Failure to comply with the Company&#146;s data protection and information security policies, may result in
disciplinary measures up to and including termination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <B><U>Business Opportunities</U></B><B>.</B> During Executive&#146;s
Employment, Executive shall promptly disclose to the Company each business opportunity of a type, which based upon its prospects and relationship to the business of the Company or its affiliates, the Company might reasonably consider pursuing. In
the event that Executive&#146;s Employment is terminated for any reason, the Company or its affiliates shall have the exclusive right to participate in or undertake any such opportunity on their own behalf without any involvement by or compensation
to Executive under this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <B><U>No Conflicting Obligations</U></B><B>.</B> Executive represents and warrants to the Company
that Executive is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with Executive&#146;s obligations under this Agreement or that would otherwise prohibit Executive from performing Executive&#146;s duties
with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2. <U>Cash and Incentive Compensation</U>. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <B><U>Base Salary</U></B><B>.</B> The Company shall pay Executive, as compensation for Executive&#146;s services, a base salary at a gross
annual rate of <B>$1,100,000</B>, less all required tax withholdings and other applicable deductions, in accordance with the Company&#146;s standard payroll procedures. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <B><U>Corporate Bonus</U></B>. Executive will be eligible to participate in the Twilio Corporate Bonus Plan (the
&#147;<B><I>Plan</I></B>&#148;), as in place from time to time and subject to the Board&#146;s approval. Executive&#146;s initial target bonus will be 100% of Executive&#146;s base salary. Whether Executive earns a bonus, the target amount of the
bonus, and the amount of any bonus payment depends on the achievement of corporate and individual objectives in accordance with the Plan, all of which is subject to Board approval. Any bonus payment will be prorated based on Executive&#146;s period
of active employment with the Company during the performance period for the Plan. Executive must be actively employed by the Company on the date bonuses are paid in order to earn and receive a bonus. The Company reserves the right, in its sole
discretion, to amend or terminate any bonus arrangements applicable to Executive at any time, in accordance with applicable law. The bonus payments or bonus plan terms and conditions applicable for any given year or during several years will not
create a precedent for any subsequent years. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <B><U>Restricted Stock Units</U></B>. Subject to the approval of the Board, following
Executive&#146;s Start Date, the Company shall grant Executive restricted stock units (the &#147;<B><I>RSUs</I></B>&#148;) with a total value of approximately <B>$10,000,000.00</B>. The number of RSUs subject to such grant will be determined by
dividing <B>$10,000,000.00</B> by the average closing market price on the New York Stock Exchange of one share of the Company&#146;s Class&nbsp;A common stock over the <FONT STYLE="white-space:nowrap">30-day</FONT> period ending five business days
before the effective date of grant (the &#147;<B><I>Grant Date</I></B>&#148;). Each RSU </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
represents the right to receive one share of the Company&#146;s Class&nbsp;A common stock if and when the RSU vests. Subject to Board approval, the Grant Date will be on or after the 20th day of
the month following the later of the offer acceptance date or Start Date. In general, the RSUs will commence vesting on the first to occur of February&nbsp;15, May&nbsp;15, August&nbsp;15 and November&nbsp;15 and will vest in equal quarterly
installments thereafter for 16 quarters, subject to Executive&#146;s continued employment with the Company through each vesting date. There is no guarantee that the value of the shares of the Company&#146;s Class&nbsp;A common stock Executive
receives if and when the RSUs vest will be equal to <B>$10,000,000.00</B>, as the future value of the Company&#146;s Class&nbsp;A common stock is unknown, indeterminable, and may fluctuate between the date of this Agreement and the Grant Date and
between the Grant Date and the applicable vesting dates. The RSUs will be subject to the terms, definitions and provisions of the Company&#146;s 2016 Stock Option and Incentive Plan and the restricted stock unit agreement by and between Executive
and the Company, which Executive will be required to accept as a condition of receiving the RSUs, both of which are incorporated herein by reference. Executive will be eligible for future awards, as determined in the sole discretion of the Board.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <B><U>Performance Stock Units</U></B>. Subject to approval by the Board, following Executive&#146;s Start Date, Executive will be
granted performance stock units (the &#147;<B><I>PSUs</I></B>&#148;) with a total value of approximately <B>$15,000,000.00</B>. The number of PSUs subject to such grant will be determined by dividing <B>$15,000,000.00</B> by the average closing
market price on the New York Stock Exchange of one share of the Company&#146;s Class&nbsp;A common stock over the <FONT STYLE="white-space:nowrap">30-day</FONT> period ending five business days before the effective date of grant. Each PSU represents
the right to receive one share of the Company&#146;s Class&nbsp;A common stock if and when the PSU vests. The PSU terms and conditions, including but not limited to applicable vesting dates and performance-based metrics, will be determined by the
Board and will be consistent with the performance-based metrics established by the Board for similar performance awards to be approved for other senior executives of the Company covering the same performance period as the PSUs. There is no guarantee
that the value of the shares of the Company&#146;s Class&nbsp;A common stock Executive may receive if and when the PSUs vest will be equal to <B>$15,000,000.00</B>, as the future value of the Company&#146;s Class&nbsp;A common stock is unknown,
indeterminable, and may fluctuate between the date of this Agreement and the grant date and between the grant date and the applicable vesting dates. The PSUs will be subject to the terms and conditions of the 2016 Stock Option and Incentive Plan and
the PSU agreement thereunder, which Executive will be required to accept as a condition to receiving the PSUs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.</B> <B><U>Employee
Benefits</U></B>. The Company does not have a formal vacation or paid time off policy, and as a result there will be no payout of vacation or paid time off upon separation of employment. Executive is permitted to take paid time off as needed
provided it does not interfere with Executive&#146;s ability to perform his duties. Executive is also entitled to paid time off in accordance with applicable paid sick leave laws. Executive shall be eligible to participate in the employee benefit
plans maintained by the Company and generally available to similarly situated employees of the Company, subject in each case to the generally applicable terms and conditions of the plan or policy in question. The Company may determine to provide
Executive with personal security during the term of Employment, and to the extent it does, the Company will provide it on a tax neutral basis to Executive. The Company reserves the right to cancel or change the employee benefit plans, policies and
programs it offers to its employees at any time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-3- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.</B> <B><U>Business Expenses</U></B>. The Company will reimburse Executive for
necessary and reasonable business expenses incurred in connection with Executive&#146;s duties hereunder upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company&#146;s generally
applicable policies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.</B> <B><U>Proprietary Information, Inventions, <FONT STYLE="white-space:nowrap">Non-Competition</FONT> and <FONT
STYLE="white-space:nowrap">Non-Solicitation</FONT> Agreement, including Mutual Arbitration Agreement</U></B>.<B> </B>Executive&#146;s acceptance of this offer is contingent upon the execution and delivery to the Company of the Twilio Inc.
Proprietary Information, Inventions, <FONT STYLE="white-space:nowrap">Non-Competition</FONT> and <FONT STYLE="white-space:nowrap">Non-Solicitation</FONT> Agreement, including Mutual Arbitration Agreement, a copy of which is attached as <B>Attachment
A</B>, which shall supersede and replace that certain Proprietary Information, Inventions, <FONT STYLE="white-space:nowrap">Non-Competition</FONT> and <FONT STYLE="white-space:nowrap">Non-Solicitation</FONT> Agreement executed by and between
Executive and the Company dated on October&nbsp;2, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.</B> <B><U>Indemnification</U></B>. The Company shall indemnify Executive
to the maximum extent permitted by applicable law and the Company&#146;s Bylaws with respect to Executive&#146;s service and Executive shall also be covered under a directors and officers liability insurance policy paid for by the Company to the
extent that the Company maintains such a liability insurance policy now or in the future. Executive agrees to indemnify and save Company and its affiliates harmless from any damages, which Company may sustain in any manner primarily through
Executive&#146;s willful misconduct or gross negligence or a material breach of the provisions of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.</B>
<B><U>Headings</U></B>. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.</B> <B><U>Whole Agreement</U></B>. No other agreements, representations or understandings (whether oral or written and whether express
or implied) that are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof. This Agreement and the Twilio Inc. Proprietary Information, Inventions, <FONT
STYLE="white-space:nowrap">Non-Competition</FONT> and <FONT STYLE="white-space:nowrap">Non-Solicitation</FONT> Agreement, including Mutual Arbitration Agreement, attached as Attachment A, and contain the entire understanding of the parties with
respect to the subject matter hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>9.</B> <B><U>Withholding Taxes</U></B>. All payments made under this Agreement shall be subject
to reduction to reflect taxes or other deductions required to be withheld by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10.</B> <B><U>Choice of Law and
Severability</U></B>. This Agreement shall be interpreted in accordance with the laws of the State of California without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid,
illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and
enforceable or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of
this Agreement is rendered illegal by any present or future statute, law, ordinance or regulation (collectively, the &#147;<B><I>Law</I></B>&#148;) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the
provision into compliance with the Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-4- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11.</B> <B><U>No Assignment</U></B>. This Agreement and all of Executive&#146;s rights
and obligations hereunder are personal to Executive and may not be transferred or assigned by Executive at any time. The Company may assign its rights under this Agreement to any entity that assumes the Company&#146;s obligations hereunder in
connection with any sale or transfer to such entity of all or a substantial portion of the Company&#146;s assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12.</B>
<B><U>Acknowledgment</U></B>. Executive acknowledges that Executive has had the opportunity to discuss this matter with and obtain advice from Executive&#146;s personal attorney, has had sufficient time to, and has carefully read and fully
understood all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13.</B>
<B><U>Counterparts</U></B>. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Execution of an electronic copy will have the same force
and effect as execution of an original, and an electronic signature will be deemed an original and valid signature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14.</B>
<B><U>Electronic Delivery</U></B>. The Company may, in its sole discretion, decide to deliver any documents or notices related to this Agreement, securities of the Company or any of its affiliates or any other matter, including documents and/or
notices required to be delivered to Executive by applicable securities law or any other law or the Company&#146;s Certificate of Incorporation or Bylaws by email or any other electronic means. Executive hereby consents to (i)&nbsp;conduct business
electronically (ii)&nbsp;receive such documents and notices by such electronic delivery and (iii)&nbsp;sign documents electronically and agree to participate through an <FONT STYLE="white-space:nowrap">on-line</FONT> or electronic system established
and maintained by the Company or a third party designated by the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signature Page Follows] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-5- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">After you have had an opportunity to review this Agreement, please feel free to contact me
if you have any questions or comments. To indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to the Company. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>TWILIO INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Christy Lake</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(Signature)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name: <U>Christy Lake</U></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Title: <U>Chief People Officer</U></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I agree to and accept employment with the Company on the terms and conditions set forth in this letter
agreement. I understand and agree that my employment with the Company is &#147;at will&#148; and that nothing herein changes the <FONT STYLE="white-space:nowrap">at-will</FONT> nature of my employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ACCEPTED AND AGREED: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KHOZEMA SHIPCHANDLER </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Khozema Shipchandler</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(Signature)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">January&nbsp;7, 2024</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attachment A: Proprietary Information, Inventions, <FONT STYLE="white-space:nowrap">Non-Competition</FONT> and <FONT
STYLE="white-space:nowrap">Non-Solicitation</FONT> Agreement, and Mutual Arbitration Agreement* </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This attachment has been omitted pursuant to Item 601(a)(5) of Regulation
<FONT STYLE="white-space:nowrap">S-K.</FONT> A copy of any omitted attachment will be furnished to the SEC upon request. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-6- </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d551551dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">January&nbsp;7, 2024 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeff Lawson </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Jeff: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter (the
&#147;<U>Agreement</U>&#148;) confirms the agreement between you and Twilio Inc. (the &#147;<U>Company</U>&#148;) regarding the end of your employment with the Company and the resolution of any disputes you have against the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Separation Date</U>. Your employment with the Company ended effective January 12, 2024 (the &#147;<U>Separation Date</U>&#148;). You
agree that you will not represent to anyone that you are still an employee of the Company, and you will not say or do anything purporting to bind the Company or any of its affiliates, after the Separation Date. Whether or not you sign this
Agreement, you will be paid all your accrued wages through the Separation Date. You will be covered by the Company&#146;s health benefits plans (in which you are enrolled as of the Separation Date) until the end of January 2024. If you are covered
by the Company&#146;s health insurance plans, you are eligible to elect continued group medical coverage through COBRA (as defined below). All other benefits, including the right to participate in any incentive compensation plans, ended on the
Separation Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>No Other Monies Owed and Other Representations</U>. You acknowledge and agree that, other than the consideration
set forth in this Agreement, you have been timely paid all of your wages and other remuneration earned through the Separation Date. You acknowledge and agree that, prior to the execution of this Agreement, you were not entitled to receive any
further payments or benefits from the Company other than the benefits required pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (&#147;<U>COBRA</U>&#148;), and similar state law, and the only payments and benefits
that you are entitled to receive from the Company in the future are those specified in this Agreement. For the avoidance of doubt, you agree that the payments and benefits provided in this Agreement satisfy in full any and all rights you may have to
receive any payments, severance pay, salary continuation, bonus payments, benefits or other consideration under any other severance plan or other arrangement, offer letter or agreement, or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You acknowledge that you have no unreimbursed business expenses. You agree that you did not suffer an injury covered by workers&#146; compensation in the
course and scope of your employment with the Company. You further represent that you have received all the leave and leave benefits and protections for which you are eligible, including but not limited to those pursuant to the Family and Medical
Leave Act, any leave laws under the applicable state law, or otherwise, and have not suffered any <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">on-the-job</FONT></FONT> injury for which you have not already filed a workers&#146;
compensation claim. You also represent that your resignation as a director and employee of the Company is not because of any disagreement with the Company on any matter relating to the Company&#146;s operations, policies, or practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Equity</U>. You acknowledge and agree that the Company has granted you awards of stock options and restricted stock units as set forth
on <U>Attachment A</U>, which remain subject to the terms and conditions of the applicable award agreements and the equity incentive plan under which they are granted (the &#147;<U>Stock Agreements</U>&#148;), subject to the vesting acceleration for
your outstanding time-based vesting equity awards and extended exercise period for your outstanding stock options provided for in Section&nbsp;4. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Consideration</U>. In consideration for your timely execution and <FONT STYLE="white-space:nowrap">non-revocation</FONT> of this
Agreement, and provided you comply with all of the terms and conditions of this Agreement, the Confidentiality Agreement (as defined below), and all applicable Company policies: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Company agrees to pay you a lump sum payment of Ninety-Nine Thousand Eight Hundred Forty Dollars ($99,840),
less applicable withholdings, within fifteen (15)&nbsp;business days following the Effective Date of this Agreement. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Your outstanding and unvested equity awards that are subject only to time-based vesting will immediately vest,
and if applicable, become exercisable as to 100% of those awards as of the Effective Date; </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Your outstanding stock options will remain exercisable through the earliest of (i)&nbsp;the three-year
anniversary of the Separation Date, (ii)&nbsp;the maximum term of the applicable stock option, or (iii)&nbsp;such time as provided for in Section&nbsp;12 for stock options granted under the 2008 Stock Option Plan and Section&nbsp;3 for stock options
granted under the Amended and Restated 2016 Stock Option and Incentive Plan; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">If you elect COBRA continuation coverage, the Company shall pay a monthly cash payment less taxes and
withholdings in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to you until the earliest of the following: (i)&nbsp;July&nbsp;31, 2025; or (ii)&nbsp;the end of your eligibility under
COBRA for continuation coverage for health care (the &#147;<U>COBRA Premium Period</U>&#148;). In the event you cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event. At its option, the
Company may, at any time, convert such payments to a payroll tax payment to you in an amount equal to its remaining COBRA premium payment obligation to you, less all applicable withholdings. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Your General Release</U>. In consideration for receiving the payments and benefits set forth in Section&nbsp;4, you hereby waive and
release to the maximum extent permitted by applicable law any and all claims or causes of action, whether known or unknown, against the Company and/or its predecessors, successors, past, present or future subsidiaries, affiliated companies,
investors, or related entities (collectively, including the Company, the &#147;<U>Entities</U>&#148;) and/or the Entities&#146; respective past, present or future insurers, officers, directors, agents, attorneys, employees, assigns and employee
benefit plans (collectively with the Entities, the &#147;<U>Released Parties</U>&#148;), with respect to any matter, including, without limitation, any matter related to your employment with the Company or the termination of that employment
relationship. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This waiver and release applies to any and all claims relating to, or arising from, your right to purchase, right to receive, and actual
purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This waiver and release applies to any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination;
harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or
intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false
imprisonment; conversion; and disability benefits. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This waiver and release includes, without limitation, any and all claims for violation of any federal,
state, or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor
Standards Act, except as prohibited by law; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act;<B> </B>the Employee Retirement Income Security Act of 1974; the Worker Adjustment
and Retraining Notification Act; the Family and Medical Leave Act, except as prohibited by law; the Sarbanes-Oxley Act of 2002 except as prohibited by law; the Uniformed Services Employment and Reemployment Rights Act; the California Family Rights
Act; the California Labor Code; the California Business and Professions Code, the California Unruh Act, the California Private Attorneys General Act, the California Constitution, and any federal, state, local, and/or municipal statute, law,
amendment, directive, order, and/or regulation enacted in response to the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic. You agree that the release set forth in this Section shall be and remain in effect in all respects as a complete
general release as to the matters released. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Although this is a general release, it does <I>not</I> apply to: (i)&nbsp;any unemployment insurance claim;
(ii)&nbsp;any workers&#146; compensation insurance benefits to the extent any applicable state law prohibits the direct release of such benefits without judicial or agency approval, with the understanding that such benefits, if any, would only be
payable in accordance with the terms of any workers&#146; compensation coverage or fund of the Company; (iii)&nbsp;continued participation in certain benefits under COBRA (and any state law counterpart), if applicable; (iv)&nbsp;any benefit
entitlements vested as of your last day of employment, pursuant to written terms of any applicable employee benefit plan sponsored by the Company; (v)&nbsp;your right to indemnification under the Company bylaws, the Indemnification
</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agreement referenced in Section&nbsp;10, or as otherwise provided by law; or (vi)&nbsp;any claims that cannot be waived as a matter of law. You represent that you have made no assignment or
transfer of any right, claim, complaint, charge, duty, obligation, demand, cause of action, or other matter waived or released by this Section. You covenant not to sue the Released Parties for any of the claims released above, agree not to
participate in any class, collective, representative, or group action that may include any of the claims released above, and will affirmatively opt out of any such class, collective, representative or group action. Further, you agree not to
participate in, seek to recover in, or assist in any litigation or investigation by other persons or entities against the Released Parties, except as required by law and/or otherwise permitted by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company represents and warrants that as of the Separation Date it has no known claims, complaints, charges, demands, or causes of action against you nor
does the Company have a present intention to bring any such claims against you. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Waiver of Unknown Claims</U>. You understand and
acknowledge that you are releasing potentially unknown claims, and that you may have limited knowledge with respect to some of the claims being released. You acknowledge that there is a risk that, after signing this Agreement, you may learn
information that might have affected your decision to enter into this Agreement. You assume this risk and all other risks of any mistake in entering into this Agreement. You agree that this Agreement is fairly and knowingly made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, you expressly waive and release any and all rights and benefits under Section&nbsp;1542 of the Civil Code of the State of
California (or any analogous law of any other state), which reads as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>&#147;A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT
THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED
PARTY.&#148; </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>ADEA Waiver</U>. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may
have under the federal Age Discrimination in Employment Act<B> </B>(&#147;<U>ADEA Waiver</U>&#148;) and that the consideration given for the ADEA Waiver is in addition to anything of value to which you are already entitled. You further acknowledge
that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">your ADEA Waiver does not apply to any claims that may arise after you sign this Agreement;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">you should consult with an attorney prior to executing this Agreement; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">you have 21 calendar days within which to consider this Agreement (although you may choose to execute it
earlier); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">you have 7 calendar days following the execution of the Agreement to revoke it; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Agreement will not be effective until the eighth day after you sign it, provided that you have not revoked
it (&#147;<U>Effective Date</U>&#148;). </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To revoke the Agreement, you must email to Dana Wagner a written notice of revocation at [***],
prior to the end of the <FONT STYLE="white-space:nowrap">7-day</FONT> period. You agree that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original
<FONT STYLE="white-space:nowrap">21-day</FONT> consideration period (the last day of such consideration period, the &#147;<U>Deadline</U>&#148;). You acknowledge that your consent to this Agreement is knowing and voluntary. The severance offer will
be automatically withdrawn if you do not sign the Agreement by the Deadline. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>No Admission</U>. Nothing in this Agreement shall
constitute or be treated as an admission by the Company or Released Parties of any liability, wrongdoing, or violation of law. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Continuing Obligations</U>. At all times in the future, you will remain bound by and
agree to comply with the Twilio Inc. Employment, Confidential Information, Invention Assignment and Arbitration Agreement that you executed in connection with your employment with the Company (the &#147;<U>Confidentiality Agreement</U>&#148;), a
copy of which is attached as <U>Attachment B</U>, with the exception of (i)&nbsp;the provision in Section&nbsp;7 of the Confidentiality Agreement in which you agreed not to enter into an employment relationship with any employee, client or partner
of the Company to whom the Company had introduced you in your capacity as an employee of the Company for a period of 12 months from the date of the start of any engagement with such client or partner of the Company and (ii)&nbsp;the Arbitration
Agreement in Section&nbsp;10 of the Confidentiality Agreement, which is replaced by the Arbitration Agreement in Section&nbsp;14 below. In addition, notwithstanding the terms of the Confidentiality Agreement, you understand that pursuant to the
federal Defend Trade Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (A)&nbsp;is made (i)&nbsp;in confidence to a federal, state, or local
government official, either directly or indirectly, or to an attorney; and (ii)&nbsp;solely for the purpose of reporting or investigating a suspected violation of law; or (B)&nbsp;is made in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. You further understand that nothing contained in this Agreement limits your ability to (a)&nbsp;communicate with any federal, state or local governmental agency or commission, including to provide
documents or other information, without notice to the Company, (b)&nbsp;file and/or pursue a charge or complaint with, or otherwise communicating or cooperating with or participating in any investigation or proceeding that may be conducted by, any
federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board
(&#147;<U>Government Agencies</U>&#148;), including disclosing documents or other information as permitted by law, without giving notice to, or receiving authorization from, the Company; (c)&nbsp;report possible violations of law or regulation to
any Government Agency; (d)&nbsp;discuss or disclose information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful. Notwithstanding, in making any such
disclosures or communications, you agree to take all reasonable precautions to prevent any unauthorized use or disclosure of any information that may constitute Confidential Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Indemnification Agreement</U>. The Twilio Inc. Indemnification Agreement, a copy of which is attached hereto as <U>Attachment C</U>,
shall remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Return of Company Property</U>. You agree that you have returned to the Company any and all
Company property in your possession or control, including, without limitation, equipment, documents (in paper and electronic form), data, notes, key cards, and credit cards, and that you have returned and/or, if incapable of being returned, you have
deleted, destroyed, and finally purged all Company property that you stored in electronic form or media (including, but not limited to, any Company property stored in a cloud environment or in your personal computer, USB drives or in any other
device that will remain in your possession after the Separation Date), except that for any property incapable of being returned, you agree to preserve any such Company property that is subject to any applicable hold notices. Your receipt of the
severance benefits offered under this Agreement is contingent upon compliance with this provision. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Nondisparagement</U>. To the
fullest extent permitted by law and except as otherwise provided in this Agreement, you agree that you will not disparage or encourage or induce others to disparage the Company or any of the Released Parties. The Company agrees to not disparage or
encourage or induce others to disparage you. You understand that the Company&#146;s obligations under this paragraph extend only to Khozema Shipchandler, Aidan Viggiano, Christy Lake, Dana Wagner, and all current members of the Board. For the
purpose of this Agreement, &#147;disparage&#148; includes, without limitation, making comments or statements online, or to any person or entity that would adversely affect in any manner (a)&nbsp;the conduct of the business of the Company (including,
but not limited to, any business plans or prospects) or (b)&nbsp;your reputation or the reputation of the Company, its officers, directors, or employees. A breach of this provision will be deemed to be a material breach of this Agreement. This
section shall not be construed to prohibit any party to this Agreement from publicly responding to incorrect public statements or from making truthful statements when required by law, subpoena, court order, or the like. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Cooperation</U>. You agree to fully cooperate with the Company and its counsel as it relates, in any way, to any issue or matter that
may arise as the subject of litigation or administrative inquiry, which occurred during your employment with the Company. Full cooperation shall include, but is not limited to, review of documents, attendance at meetings, trial or administrative
proceedings, depositions, interviews, or production of documents to the Company without the need of the subpoena process. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Arbitration Agreement</U>. You and the Company agree that any and all claims or
disputes arising out of or relating to this Agreement or your employment with the Company or the termination of your employment, shall be resolved by final, binding and confidential arbitration before a single arbitrator in San Francisco, California
(or another mutually agreeable location) conducted under the Judicial Arbitration and Mediation Services (JAMS) Arbitration Rules&nbsp;&amp; Procedures, which can be reviewed at <U>http://www.jamsadr.com/rules-employment-arbitration/</U>. <B>You and
the Company each acknowledge that by agreeing to this arbitration procedure, you and the Company waive the right to resolve any such dispute, claim or demand through a trial by jury or judge or by administrative proceeding. </B>The arbitrator, and
not a court, shall also be authorized to determine arbitrability, except as provided herein. All claims or disputes must be submitted to arbitration on an individual basis and not as a representative, class and/or collective action proceeding on
behalf of other individuals. Any issue concerning the validity of this representative, class and/or collective action waiver must be decided by a Court and if for any reason it is found to be unenforceable, the representative, class and/or
collective action claim may only be heard in Court and may not be arbitrated. Claims will be governed by their applicable statutes of limitations. This arbitration agreement does not cover any action seeking only emergency, temporary or preliminary
injunctive relief (including a temporary restraining order) in a court of competent jurisdiction in accordance with applicable law to protect a party&#146;s confidential or trade secret information. This arbitration agreement shall be governed by
and construed and interpreted in accordance with the Federal Arbitration Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Permitted Disclosures and Actions</U>. This
Agreement does not prohibit or restrict you, the Company, or the other Releasees from: (i)&nbsp;disclosing information regarding unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you had reason to believe
is unlawful; (ii)&nbsp;initiating communications directly with, cooperating with, providing relevant information, or otherwise assisting in an investigation by (A)&nbsp;the SEC, or any other governmental, regulatory, or legislative body regarding a
possible violation of any federal law; or (B)&nbsp;the EEOC or any other governmental authority with responsibility for the administration of fair employment practices laws regarding a possible violation of such laws, or as compelled or requested by
lawful process; (iii)&nbsp;responding to any inquiry from any such governmental, regulatory, or legislative body or official or governmental authority, including an inquiry about the existence of this Agreement or its underlying facts or
circumstances; or (iv)&nbsp;participating, cooperating, testifying, or otherwise assisting in any governmental action, investigation, or proceeding relating to a possible violation of any such law, rule or regulation. You are, however, waiving any
right to recover money in connection with any agency charge or agency or judicial decision, including class or collective action rulings, other than bounty money properly awarded by the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>No Pending or Future Lawsuits</U>. You represent that you have no lawsuits, claims, or actions pending in your name, or on behalf of
any other person or entity, against the Company or any of the other Releasees. You also represent that you do not intend to bring any claims on your own behalf or on behalf of any other person or entity against the Company or any of the other
Releasees. Notwithstanding, nothing herein prevents any actions or disclosures expressly allowed by the Permitted Disclosures and Actions provision set forth below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U>Breach</U>. In the event that you breach any of your obligations under this Agreement or as otherwise imposed by law, the Company will
be entitled to recover all relief provided by law or equity.<B> </B>You shall also be responsible to the Company for all costs, attorneys&#146; fees, and any and all damages incurred by the Company in (a)&nbsp;enforcing your obligations under this
Agreement, and (b)&nbsp;defending against a claim or suit brought or pursued by you in violation of the terms of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18.
<U>Section 409A</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">If at the time of your &#147;separation from service&#148; within the meaning of Section&nbsp;409A of the Code,
the Company determines that you are a &#147;specified employee&#148; within the meaning of Section&nbsp;409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that you become entitled to under this Agreement would be considered
deferred compensation subject to the additional tax imposed pursuant to Section&nbsp;409A(a) of the Code as a result of the application of Section&nbsp;409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be
provided until the date that is the earlier of (i)&nbsp;six months and <FONT STYLE="white-space:nowrap">one-day</FONT> after your separation from service, or (ii)&nbsp;your death. If any such delayed cash payment is otherwise payable on an
installment basis, the first payment shall include a <FONT STYLE="white-space:nowrap">catch-up</FONT> payment covering amounts that would otherwise have been paid during the <FONT STYLE="white-space:nowrap">six-month</FONT> period but for the
application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The parties intend that this Agreement will be administered in accordance with Section&nbsp;409A of the Code
and that all amounts payable hereunder shall be exempt from the requirements of such section as a result of being &#147;short term deferrals&#148; for purposes of Section&nbsp;409A of the Code to the greatest extent possible. To the extent that any
provision of this Agreement is not exempt from Section&nbsp;409A of the Code and ambiguous as to its compliance with Section&nbsp;409A of the Code, the provision shall be read in such a manner to comply with Section&nbsp;409A of the Code. Each
payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-2(b)(2).</FONT> The parties agree that this Agreement may be amended, as
reasonably requested by either party, and as may be necessary to fully comply with Section&nbsp;409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to
either party. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To the extent that any payment or benefit described in this Agreement constitutes <FONT
STYLE="white-space:nowrap">&#147;non-qualified</FONT> deferred compensation&#148; under Section&nbsp;409A of the Code, and to the extent that such payment or benefit is payable upon your termination of employment, then such payments or benefits
shall be payable only upon your &#147;separation from service.&#148; The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation <FONT
STYLE="white-space:nowrap">Section&nbsp;1.409A-1(h).</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided and expenses eligible for reimbursement
under this Agreement shall be provided by the Company or incurred by you during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid
after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided or reimbursable expenses incurred in one taxable year shall not
affect the <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses). Such
right to reimbursement or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits is not subject to liquidation or exchange for another benefit. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Company makes no representation or warranty and shall have no liability to you or any other person if any
provisions of this Agreement are determined to constitute deferred compensation subject to Section&nbsp;409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>Entire Agreement</U>. Except for the Stock Agreements, the Indemnification Agreement, and the Confidentiality Agreement, as modified
herein, you agree that this Agreement constitutes the entire agreement and understanding between you and the Company or any affiliate of the Company, with respect to the subject matter hereof and, except as provided in this Agreement, supersedes all
prior and contemporaneous written or oral agreements, discussions, representations, warranties or understandings between you and the Company or any affiliate of the Company, including, but not limited to, any offer letter, the CEO Severance Plan and
any incentive compensation agreement entered into by and between you and the Company. This Agreement may be modified only in a written document signed by you and a duly authorized officer of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U>Authority.</U> The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind
the Company and all who may claim through it to the terms and conditions of this Agreement. You represent and warrant that you have the capacity to act on your own behalf and on behalf of all who might claim through you to bind them to the terms and
conditions of this Agreement. Each party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>No Representations</U>. You represent that you have had an opportunity to consult with an attorney and have carefully read and
understand the scope and effect of the provisions of this Agreement. You have not relied upon any representations or statements made by the Company that are not specifically set forth in this Agreement. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. <U>Costs</U>. The Company will reimburse Employee&#146;s reasonable legal fees incurred
in the negotiation and preparation of this Agreement up to $25,000. The parties will otherwise each bear their own costs, attorneys&#146; fees, and other fees incurred in connection with the negotiation and preparation of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">24. <U>Governing Law</U>. Except as to the arbitration provision, this Agreement shall be construed and interpreted in accordance with the
laws of the State of California, without giving effect to provisions governing the choice of law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">25. <U>Severability</U>. The provisions
of this Agreement are severable. If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted from this Agreement and such invalidity or unenforceability shall not affect any other provision of this
Agreement, the balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall
be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">26. <U>Counterparts</U>. This
Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement. You and the Company agree that execution via DocuSign or a similar service, or of a scanned image, shall have
the same force and effect as execution of an original, that an electronic signature or scanned image of a signature shall be deemed an original and valid signature, and that the Agreement may not be challenged on the basis of such signatures. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You have a right to consult with an attorney regarding this Agreement. To accept this
Agreement, please sign and date this Agreement <U>on or after</U> the Separation Date and return it to me by the Deadline. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"><B>TWILIO INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Christy Lake</TD></TR></TABLE></DIV> <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">(Signature)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Christy Lake</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief People Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">My agreement with the terms and conditions of this Agreement is signified by my signature below.
Furthermore, I acknowledge that I have read and understand this Agreement, that I have a right to consult with an attorney regarding this Agreement, and that I sign this release of all claims knowingly and voluntarily, with full appreciation that at
no time in the future may I pursue any of the rights I have waived in this Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Signed&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeff Lawson</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Dated:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">January&nbsp;7, 2024</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jeff Lawson</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attachment&nbsp;A:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Equity Awards*</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attachment B:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment, Confidential Information, Invention Assignment and Arbitration Agreement*</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attachment C:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Twilio Inc. Indemnification Agreement*</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">These attachments have been omitted pursuant to Item 601(a)(5) of Regulation
<FONT STYLE="white-space:nowrap">S-K.</FONT> A copy of any omitted attachment will be furnished to the SEC upon request. </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>d551551dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Twilio Announces CEO Transition </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Khozema Shipchandler Appointed CEO </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Jeff Lawson Steps Down as CEO and from the Twilio Board of Directors </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Jeff Epstein Appointed Chair of the Twilio Board of Directors </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Company Expects to Exceed Financial Guidance for Fourth Quarter and Full Year 2023 Results </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SAN FRANCISCO &#150; January</B><B></B><B>&nbsp;8, 2024 &#150;</B> Twilio (NYSE: TWLO), the customer engagement platform that drives real-time,
personalized experiences for today&#146;s leading brands, today announced that Khozema Shipchandler, formerly President of Twilio Communications, has been appointed Chief Executive Officer and will join the company&#146;s Board of Directors,
effective immediately. Shipchandler succeeds Jeff Lawson, Twilio&#146;s <FONT STYLE="white-space:nowrap">co-founder,</FONT> who is stepping down as CEO and as a member of the Twilio Board. In addition, Jeff Epstein, a member of the Twilio Board and
Lead Independent Director since 2017, has been appointed as Chair of the Twilio Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shipchandler has over 25 years of experience growing businesses
and driving financial performance across global, public organizations. Prior to Twilio, Khozema spent over two decades at GE where he drove operating excellence in GE&#146;s high tech aviation division, plus accelerated growth in the Middle East
region. He has a deep understanding of Twilio&#146;s business, operations and culture, having most recently served as President of Twilio Communications, and previously as Twilio&#146;s Chief Operating Officer and Chief Financial Officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Khozema is a proven leader and the right person to lead Twilio in its next chapter,&#148; said Jeff Epstein, incoming Board Chair. &#147;This
appointment ensures that Twilio is best positioned to deliver increased value to all stakeholders going forward. Khozema successfully led Twilio Communications over the past year, pivoting the business to profitable growth, in addition to having
served in key operational and financial leadership roles over the past five years.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shipchandler said, &#147;I am honored to step into the CEO role
and to partner with our talented team to lead Twilio in its next era. Over the last year and a half, we have implemented meaningful changes across the organization to position ourselves for renewed growth and to drive operational improvements,
optimize our capital allocation strategy and enhance focus and execution. We have a strong foundation, but we always have more work to do. As I step into the CEO role, I am focused on continuing to build on the considerable growth and operating
improvements we&#146;ve made across the board, plus taking a fresh look at the areas of the business that are underperforming to realize the full potential of our business.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Building Twilio over the past 15 years has been one of the most rewarding experiences of my life,&#148; said Jeff Lawson. &#147;We launched Twilio in
2008 with a <FONT STYLE="white-space:nowrap">to-do</FONT> list written on the back of a pizza box and 15 years later, Twilio&#146;s platform handles over 1.7 trillion interactions a year on behalf of more than 306,000 customers across the globe.
I&#146;m proud to have led the company from zero to over $4&nbsp;billion in annualized revenue, and now generating a 19% free cash flow margin as of our last earnings. I leave Twilio in the hands of a capable and talented management team who have my
full support and respect. Khozema is a great leader, and I am confident he will lead the company well. Thank you to every Twilio customer, employee and developer I&#146;ve had the privilege of building with &#150; I can&#146;t wait to see what you
build next.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shipchandler continued, &#147;It is a privilege to follow in the footsteps of Jeff&#151;a tech visionary and pioneer from whom I have
learned so much from over the past five years. Over the last 15 years, Jeff led Twilio through its incredible evolution from a disruptive startup to an admired public company. He brought his passion as a founder to countless product innovations and
shaped our culture. Jeff also pushed the tech industry forward in many ways &#150; democratizing business communications and making a hero of developers. His mark on Twilio is indelible and I have profound respect for him as a leader and
friend.&#148; </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Fourth Quarter and Full Year 2023 Results </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Twilio expects to report fourth quarter 2023 revenue, fourth quarter 2023 <FONT STYLE="white-space:nowrap">non-GAAP</FONT> income from operations, and fiscal
year 2023 <FONT STYLE="white-space:nowrap">non-GAAP</FONT> income from operations above the <FONT STYLE="white-space:nowrap">top-end</FONT> of the guidance ranges it originally provided on November&nbsp;8, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company will provide further information when it releases its fourth quarter and full year 2023 results on Wednesday, February&nbsp;14, 2024, after market
close. Twilio will host a conference call at 2:00 p.m. (PT) / 5:00 p.m. (ET) on Wednesday, February&nbsp;14, 2024, to discuss its results with the investment community. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and analysts can <FONT STYLE="white-space:nowrap">pre-register</FONT> for the webcast at https://events.q4inc.com/attendee/764646733, and the live
webcast will also be available on the Twilio Investor Relations website at https://investors.twilio.com. A replay will be available at (800) <FONT STYLE="white-space:nowrap">770-2030</FONT> (U.S.) or (647)
<FONT STYLE="white-space:nowrap">362-9199</FONT> <FONT STYLE="white-space:nowrap">(non-U.S.)</FONT> with conference ID 80378 until 11:59 p.m. (ET) on February&nbsp;21, 2024. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Khozema Shipchandler </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Khozema Shipchandler most
recently served as President of Twilio Communications, since his appointment in March 2023. Prior to that, he had served as Twilio&#146;s Chief Operating Officer since October 2021 and as Chief Financial Officer from November 2018 to October 2021.
Prior to Twilio, Shipchandler held a variety of financial and operating roles at GE across Industrial Internet, Aviation and Corporate Audit in the U.S., Middle East and Singapore. He earned his bachelor&#146;s degree from Indiana University
Bloomington. Khozema also serves on the boards of Smartsheet and Ethos. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Twilio Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Today&#146;s leading companies trust Twilio&#146;s Customer Engagement Platform (CEP) to build direct, personalized relationships with their customers
everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a
flexible, programmatic way. Across 180 countries, millions of developers and hundreds of thousands of businesses use Twilio to create magical experiences for their customers. For more information about Twilio (NYSE: TWLO) visit www.twilio.com. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains
forward-looking statements within the meaning of the federal securities laws, which statements involve risks and uncertainties. Forward-looking statements generally relate to future events or Twilio&#146;s future financial or operating performance.
In some cases, you can identify forward-looking statements because they contain words such as &#147;may,&#148; &#147;can,&#148; &#147;will,&#148; &#147;would,&#148; &#147;should,&#148; &#147;expects,&#148; &#147;plans,&#148; &#147;anticipates,&#148;
&#147;could,&#148; &#147;intends,&#148; &#147;target,&#148; &#147;projects,&#148; &#147;contemplates,&#148; &#147;believes,&#148; &#147;estimates,&#148; &#147;predicts,&#148; &#147;forecasts,&#148; &#147;potential&#148; or &#147;continue&#148; or
the negative of these words or other similar terms or expressions that concern Twilio&#146;s expectations, strategy, plans or intentions. Forward-looking statements contained in this press release include, but are not limited to, statements about:
Twilio&#146;s financial performance, including Twilio&#146;s expected financial results for the fourth quarter and fiscal year ended December&nbsp;31, 2023; Twilio&#146;s CEO transition; Twilio&#146;s anticipated strategies and business plans;
Twilio&#146;s expectations regarding future growth and profitability; and the effects of organizational and operational changes. You should not rely upon forward-looking statements as predictions of future events. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The outcome of the events described in these forward-looking statements is subject to known and unknown
risks, uncertainties, and other factors that may cause Twilio&#146;s actual results, performance, or achievements to differ materially from those described in the forward-looking statements, including, among other things: Twilio&#146;s ability to
realize the anticipated benefits of changes to its operating model and organizational structure; Twilio&#146;s ability to successfully implement its cost-saving initiatives and to capture expected efficiencies; the impact of macroeconomic
uncertainties and market volatility; Twilio&#146;s financial performance, including expectations regarding its results of operations and the assumptions underlying such expectations, and ability to achieve and sustain profitability; Twilio&#146;s
ability to attract and retain customers; Twilio&#146;s ability to compete effectively in an intensely competitive market; Twilio&#146;s ability to comply with modified or new industry standards, laws and regulations applying to its business, and
increased costs associated with regulatory compliance; and Twilio&#146;s ability to manage changes in network service provider fees and optimize its network service provider coverage and connectivity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully
described in Twilio&#146;s most recent filings with the Securities and Exchange Commission, including its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> and subsequent Quarterly Reports on Form
<FONT STYLE="white-space:nowrap">10-Q.</FONT> Twilio operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press
release. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements represent Twilio&#146;s management&#146;s beliefs and assumptions only as of the date such statements are made.
Twilio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events,
except as required by law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to financial information presented in accordance with GAAP, this press release includes free cash flow margin, a
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial measure. We use <FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that our <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> financial measures may be helpful to investors because they provide consistency and comparability with past financial performance and assist in comparisons with other companies, many of which use similar <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> financial measures to supplement their GAAP results. We believe free cash flow margin provides useful supplemental information to help investors understand underlying trends in our business. Our <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> financial measures are presented for supplemental informational purposes only, should not be considered substitutes for financial information presented in accordance with GAAP, and may be different from
similarly-titled <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures used by other companies. A reconciliation to the most directly comparable GAAP measure is included below. Note that material changes to reconciling items could have a
significant effect on future GAAP results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We define free cash flow margin as free cash flow divided by revenue. We calculate free cash flow as net cash
provided by operating activities, excluding capitalized software development costs and purchases of long-lived and intangible assets. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures Reconciliation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>(in thousands, except percentages; unaudited) </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="86%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Three&nbsp;Months&nbsp;Ended<BR>September&nbsp;30, </B><br><B>2023</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Free cash flow margin</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Revenue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B></B>1,033,670</TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by operating activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">206,427</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capitalized software development costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(10,451</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of long-lived and intangible assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(765</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Free cash flow</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B></B>195,211</TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash provided by operating activities margin</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B></B>20</TD>
<TD NOWRAP VALIGN="bottom"><B></B>%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Free cash flow margin</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B></B>19</TD>
<TD NOWRAP VALIGN="bottom"><B></B>%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investor
Contact: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bryan Vaniman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ir@Twilio.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Media Contact: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Caitlin Epstein </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">press@Twilio.com </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>5
<FILENAME>twlo-20240107.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20231012.2 -->
<!-- Creation date: 1/8/2024 4:11:01 PM Eastern Time -->
<!-- Copyright (c) 2024 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema
  xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric"
  xmlns:num="http://www.xbrl.org/dtr/type/numeric"
  xmlns:us-types="http://fasb.org/us-types/2023"
  xmlns:twlo="http://www.twilio.com/20240107"
  xmlns:dei="http://xbrl.sec.gov/dei/2023"
  xmlns:xbrli="http://www.xbrl.org/2003/instance"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
  attributeFormDefault="unqualified"
  elementFormDefault="qualified"
  targetNamespace="http://www.twilio.com/20240107"
  xmlns:xsd="http://www.w3.org/2001/XMLSchema">
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance" />
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/linkbase" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/dei/2023/dei-2023.xsd" namespace="http://xbrl.sec.gov/dei/2023" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/numeric" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/non-numeric" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/naics/2023/naics-2023.xsd" namespace="http://xbrl.sec.gov/naics/2023" />
    <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="twlo-20240107_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label Links, all" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="twlo-20240107_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:title="Presentation Links, all" xlink:type="simple" />
      <link:roleType roleURI="http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation" id="Role_DocumentDocumentAndEntityInformation">
        <link:definition>100000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>twlo-20240107_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20231012.2 -->
<!-- Creation date: 1/8/2024 4:11:01 PM Eastern Time -->
<!-- Copyright (c) 2024 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cover [Abstract]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line Two</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line Two</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>twlo-20240107_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20231012.2 -->
<!-- Creation date: 1/8/2024 4:11:01 PM Eastern Time -->
<!-- Copyright (c) 2024 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="twlo-20240107.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityRegistrantName" order="22.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="23.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="24.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentType" order="26.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentPeriodEndDate" order="27.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityIncorporationStateCountryCode" order="28.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="29.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityTaxIdentificationNumber" order="30.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine1" order="31.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine2" order="32.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressCityOrTown" order="33.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressStateOrProvince" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressPostalZipCode" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SecurityExchangeName" order="44.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityEmergingGrowthCompany" order="45.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>g551551g0108040618816.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g551551g0108040618816.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  Q )H# 2(  A$! Q$!_\0
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ME7_W376 YKQ/Q3X4E\/R)=6TC2V,C?NY >4/8$_R-=YX$\2OK>GFWN7S>6P
M9C_&O8TX3=^66YRX[ 4E26)PKO!_@=C15/4+^/3;":\G)$4*[FVC)Q7"/\3F
MN-1M[>RL@L<DRH7E/."0.E:2DH[G!0P=:O%RIQNEN>CT4S)_"@-\U4<P^BF;
MC02>QH ?17&^-?%5[X=-F+2.-O.W;MX]*Q=,^(.J7=GJDTD, :UMO-3 /)W
M<_G4.:3L=U/+J]2BJT;<K\_D>F45Y7IWQ'U:[U2TMI(;<)-,J-@=B:2_^).K
M6VH74$<-N5BE=%)4] 2*7M8VN;/)\4I^SLKVON>JT5E>']1FU30K.^F 62:/
M<P4<9K3!-:'F3BX2<7T'44PM\V*=F@1X1?E]>\9RJ6S]IN_+'LN<?RKT+Q[8
M7 \)1V^GQGR8'7S(T'.P#^G%>>VI&F>-HS,<>3?8?/;YO_KUZGXOUYM T;[1
M$BO-*WEQANF2,Y/X5S0MRRN?49BYQKX>-)722LNC/-?!%K>2>*K-X$=4C;=*
MV" %QR#6;KEI?0ZW>+=QR-,96.[:3NR>"*ZSPCXRO)M;AL;Q8GCNF*AD0*5;
MM^%4M9\=7\NL2-:I"L$+E4#H"6 /4U-H<FYV*IB_KTOW:OR]_,[71])EN_ ,
M>G:DA,DD+##]5Y)7\N*\^\#74EEXQM4W8$I:&0>O!_J*]3T;6$U+PY#JK@(K
M1LT@]"N0?Y5Y-X34W?C2Q91P9VDX].35U+7C8\_ N4J6)C45EJ_GJ=G\3=3N
MK2VM;.&3;#<JXE7'W@,8KR^*1H94E0X:-@RGT(.17M?C:TMY_#-[-+$K20Q$
MQL1RI/I7C6GA6U*T$@!0S(&!Z$;A45D^<[LBJ0^IR]W:]_,Z!?&WB1[9YUO@
M41PC?(."<X_E70>#_&-[=S7Z:I<!UBMS,A(Q]WJ*W_$N@V,GAC4(K&VACDV>
M:/+')*\_XUXU'*\6[8Q7>I1L=P>HISE*G)-LC"TL+F-&:A346G\SHO\ A/?$
M'F;_ +9\N<[-HQCTKIO%_C*\M?[-&ESB,3V_GR,!G.>@_G7FVT[-V/ESC/O3
MI9I)0OF,6V*$7/8#H*S565FCT)Y3AI5(24597NNYO7/BC6[FVCGN9HY4+E$+
MQ@\@ G^8J:PU2XO](UU)_+PMF&&Q O.\>E+XCL/[.\+^'XF4"5TDED^K8/\
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>1110,**** "BBB@ HHHH **** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.4</span><table class="report" border="0" cellspacing="2" id="idm139749665315024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Jan. 07, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">TWILIO INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001447669<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jan.  07,  2024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-37806<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">26-2574840<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">101 Spear Street<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Fifth Floor<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">San Francisco<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">94105<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(415)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">390-2337<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Class&#160;A Common Stock, par value $0.001 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TWLO<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>d551551d8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2023"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="twlo-20240107.xsd" xlink:type="simple"/>
    <context id="duration_2024-01-07_to_2024-01-07">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001447669</identifier>
        </entity>
        <period>
            <startDate>2024-01-07</startDate>
            <endDate>2024-01-07</endDate>
        </period>
    </context>
    <dei:EntityRegistrantName
      contextRef="duration_2024-01-07_to_2024-01-07"
      id="Hidden_dei_EntityRegistrantName">TWILIO INC</dei:EntityRegistrantName>
    <dei:AmendmentFlag contextRef="duration_2024-01-07_to_2024-01-07">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey
      contextRef="duration_2024-01-07_to_2024-01-07"
      id="Hidden_dei_EntityCentralIndexKey">0001447669</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="duration_2024-01-07_to_2024-01-07">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="duration_2024-01-07_to_2024-01-07">2024-01-07</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="duration_2024-01-07_to_2024-01-07">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="duration_2024-01-07_to_2024-01-07">001-37806</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="duration_2024-01-07_to_2024-01-07">26-2574840</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="duration_2024-01-07_to_2024-01-07">101 Spear Street</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="duration_2024-01-07_to_2024-01-07">Fifth Floor</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown contextRef="duration_2024-01-07_to_2024-01-07">San Francisco</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="duration_2024-01-07_to_2024-01-07">CA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="duration_2024-01-07_to_2024-01-07">94105</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="duration_2024-01-07_to_2024-01-07">(415)</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="duration_2024-01-07_to_2024-01-07">390-2337</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="duration_2024-01-07_to_2024-01-07">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="duration_2024-01-07_to_2024-01-07">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="duration_2024-01-07_to_2024-01-07">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="duration_2024-01-07_to_2024-01-07">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="duration_2024-01-07_to_2024-01-07">Class&#160;A Common Stock, par value $0.001 per share</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="duration_2024-01-07_to_2024-01-07">TWLO</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="duration_2024-01-07_to_2024-01-07">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="duration_2024-01-07_to_2024-01-07">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>11
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
M4$L#!!0    ( &])*%@'04UB@0   +$    0    9&]C4')O<',O87!P+GAM
M;$V./0L",1!$_\IQO;=!P4)B0-!2L+(/>QLOD&1#LD)^OCG!CVX>;QA&WPIG
M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGD<Z,STA)8*O4'J@)I9GF
M3?X.CD:?<@X>K7A.YNJQ<&4GPZ4A!0W_<FW>J=0U[R;UEA_6\#MI7E!+ P04
M    " !O22A8/SJJ&NX    K @  $0   &1O8U!R;W!S+V-O<F4N>&ULS9+/
M2L0P$(=?17)O)^DNHJ';B^))07!!\1:2V=U@\X=DI-VWMXV[740?P&-F?OGF
M&YA61ZE#PN<4(B:RF*]&U_LL==RP U&4 %D?T*E<3PD_-7<A.473,^TA*OVA
M]@@-Y]?@D)11I& &5G$ALJXU6NJ$BD(ZX8U>\/$S]05F-&"/#CUE$+4 ULT3
MXW'L6[@ 9AAA<OF[@&8AENJ?V-(!=DJ.V2ZI81CJ855RTPX"WIX>7\JZE?69
ME-<X_<I6TC'BAITGOZ[N[K</K&MXLZZXJ/C-5JRE$+*Y?9]=?_A=A%TP=F?_
ML?%9L&OAUUUT7U!+ P04    " !O22A8F5R<(Q &  "<)P  $P   'AL+W1H
M96UE+W1H96UE,2YX;6SM6EMSVC@4?N^OT'AG]FT+QC:!MK03<VEVV[29A.U.
M'X416(UL>621A'^_1S80RY8-[9)-NIL\!"SI^\Y%1^?H.'GS[BYBZ(:(E/)X
M8-DOV]:[MR_>X%<R)!%!,!FGK_# "J5,7K5::0##.'W)$Q+#W(*+"$MX%,O6
M7.!;&B\CUNJTV]U6A&ELH1A'9&!]7BQH0-!445IO7R"TY1\S^!7+5(UEHP$3
M5T$FN8BT\OELQ?S:WCYES^DZ'3*!;C ;6"!_SF^GY$Y:B.%4PL3 :F<_5FO'
MT=)(@(+)?90%NDGVH],5"#(-.SJ=6,YV?/;$[9^,RMIT-&T:X./Q>#BVR]*+
M<!P$X%&[GL*=]&R_I$$)M*-IT&38]MJND::JC5-/T_=]W^N;:)P*C5M/TVMW
MW=..B<:MT'@-OO%/A\.NB<:KT'3K:28G_:YKI.D6:$)&X^MZ$A6UY4#3( !8
M<';6S-(#EEXI^G64&MD=N]U!7/!8[CF)$?[&Q036:=(9EC1&<IV0!0X -\31
M3%!\KT&VBN#"DM)<D-;/*;50&@B:R('U1X(AQ=RO_?67N\FD,WJ=?3K.:Y1_
M::L!I^V[F\^3_'/HY)^GD]=-0LYPO"P)\?LC6V&')VX[$W(Z'&="?,_V]I&E
M)3+/[_D*ZTX\9Q]6EK!=S\_DGHQR([O=]EA]]D]';B/7J<"S(M>41B1%G\@M
MNN01.+5)#3(3/PB=AIAJ4!P"I DQEJ&&^+3&K!'@$WVWO@C(WXV(]ZMOFCU7
MH5A)VH3X$$8:XIQSYG/1;/L'I4;1]E6\W*.76!4!EQC?-*HU+,76>)7 \:V<
M/!T3$LV4"P9!AI<D)A*I.7Y-2!/^*Z7:_IS30/"4+R3Z2I&/:;,CIW0FS>@S
M&L%&KQMUAVC2/'K^!?F<-0H<D1L= F<;LT8AA&F[\!ZO)(Z:K<(1*T(^8ADV
M&G*U%H&V<:F$8%H2QM%X3M*T$?Q9K#63/F#([,V1=<[6D0X1DEXW0CYBSHN0
M$;\>ACA*FNVB<5@$_9Y>PTG!Z(++9OVX?H;5,VPLCO='U!=*Y \FIS_I,C0'
MHYI9";V$5FJ?JH<T/J@>,@H%\;D>/N5Z> HWEL:\4*Z">P'_T=HWPJOX@L Y
M?RY]SZ7ON?0]H=*W-R-]9\'3BUO>1FY;Q/NN,=K7-"XH8U=RS<C'5*^3*=@Y
MG\#L_6@^GO'M^MDDA*^:62TC%I!+@;-!)+C\B\KP*L0)Z&1;)0G+5--E-XH2
MGD(;;NE3]4J5U^6ON2BX/%ODZ:^A=#XLS_D\7^>TS0LS0[=R2^JVE+ZU)CA*
M]+',<$X>RPP[9SR2';9WH!TU^_9==N0CI3!3ET.X&D*^ VVZG=PZ.)Z8D;D*
MTU*0;\/YZ<5X&N(YV02Y?9A7;>?8T='[Y\%1L*/O/)8=QXCRHB'NH8:8S\-#
MAWE[7YAGE<90-!1M;*PD+$:W8+C7\2P4X&1@+: '@Z]1 O)256 Q6\8#*Y"B
M?$R,1>APYY=<7^/1DN/;IF6U;J\I=QEM(E(YPFF8$V>KRMYEL<%5'<]56_*P
MOFH]M!5.S_Y9K<B?#!%.%@L22&.4%Z9*HO,94[[G*TG$53B_13.V$I<8O./F
MQW%.4[@2=K8/ C*YNSFI>F4Q9Z;RWRT,"2Q;B%D2XDU=[=7GFYRN>B)V^I=W
MP6#R_7#)1P_E.^=?]%U#KG[VW>/Z;I,[2$R<><41 71% B.5' 86%S+D4.Z2
MD 83 <V4R43P H)DIAR F/H+O?(,N2D5SJT^.7]%+(.&3E[2)1(4BK ,!2$7
M<N/O[Y-J=XS7^BR!;814,F35%\I#B<$],W)#V%0E\Z[:)@N%V^)4S;L:OB9@
M2\-Z;ITM)__;7M0]M!<]1O.CF> >LX=SFWJXPD6L_UC6'ODRWSEPVSK> U[F
M$RQ#I'[!?8J*@!&K8KZZKT_Y)9P[M'OQ@2";_-;;I/;=X Q\U*M:I60K$3]+
M!WP?D@9CC%OT-%^/%&*MIK&MQMHQ#'F 6/,,H68XWX=%FAHSU8NL.8T*;T'5
M0.4_V]0-:/8--!R1!5XQF;8VH^1."CS<_N\-L,+$CN'MB[\!4$L#!!0    (
M &])*%APE+:A9@0  #81   8    >&PO=V]R:W-H965T<R]S:&5E=#$N>&UL
MC9AM;_(V%(;_BI5-TR:US0OAK0,D2MN-/7U:5-BJ;=H'DQBPFMB9[93VW^\X
MH0G;P@E?( XY=R[[V/>Q&>VE>M4[Q@QY3Q.AQ\[.F.S:=76T8RG55S)C G[9
M2)52 TVU=76F&(V+H#1Q \_KN2GEPIF,BGL+-1G)W"1<L(4B.D]3JCYN6"+W
M8\=W/F\\\^W.V!ON9)31+5LR\VNV4-!R*Y68ITQH+@51;#-VIO[U3="U <43
MOW&VUT?7Q'9E+>6K;<SCL>-9(I:PR%@)"E]O;,:2Q"H!Q]\'4:=ZIPT\OOY4
MOR\Z#YU94\UF,GGAL=F-G8%#8K:A>6*>Y?YG=NA0 1C)1!>?9%\^&WH.B7)M
M9'H(!H*4B_*;OA\&XCA@>"(@. 0$!7?YHH+REAHZ&2FY)\H^#6KVHNAJ$0UP
M7-BL+(V"7SG$F<FMC'(89$.HB,F=,-Q\D+DHLPVC-G(-O,0^ZD8'P9M2,#@A
M^ L55\3K7Y# "\)_A[O 5@$&%6!0Z'5.Z,WD&U/DS^E:&P4I_*N)J%0(FQ7L
MO+[6&8W8V(&)JYEZ8\[DNV_\GO<CPM>I^#J8^N0P9L]LRRTAC.0C35D3):ZS
M>ID_S)_(_'&&0(455(B*32&E<9'6^X1NFV#P^ U--$,XNA5']YS!F0&)H@E,
MK)B]DR_LHXD(5_(\SP_#?J\W1+!Z%58/%:LF_>HC:TP5'CZX_() ]"N(_GD0
M"Z:XM(LO)K"$&WEPI6+)%6NN;=$-*K;!.7F;BTBJ3*K""LC2 !V9R1R2"3F5
M<2,J+GQ[A] -*[KA.73W/&'D,4_73#6!X!HPG2X[_8'70WA\KS91[QRB%7TG
M\QARRC<\*@?M-%^+9-"[#+K]<!!Z&.&1S?OG$$[C&"Q07WQ>D =XCCR)QE2V
M2/J>3Y89HPIFAH+Z@W'6;N^C9HUSKO:RD1.7O.<;LP,CE%)AB+7A^V<Y?H4X
MLRVIR$KNF^LE+K>D@MQ#X8BXCB0&6)N_C[OW?P'+A0N$"R7?N(B:DXUKSJ88
M6ET/_+,*0H6VD-I 8?B#9R<-I45Q&/I>%V.KBX*/VWJ1QREL;4^CX +?AW[W
M!PRE+@T^[N@/,H)16>RDP!RN1:0S]"Z#3J>/$=4%P<>-^T5Q8YB H4G37!S<
M33=2X4)M6PN_K@(^;N%+F?"(&RZVY"M,<,5ITLB#J[3Q!'41"'#'7BA6# ^#
M%5;N+F 3!GO7I\VF.7\M>JUDM?D'N%/_CVRN=0YDK8"X;"O@T1X?M^@EBW)E
MEY\?K,F*FZ1Q^;6(S!*J=;FOGQ;=+?8L,GJ](!D4J3>:Y(Q\ZUU!Z2<9=%OO
MJ$+QZXH0M.S=%8WM-%Q^I&O9. G;!%X>GC"2VOH#W*:K@;Q[CW94;-G)TTB+
MT./O2VRK%M2.'YSE^'<I4UL[1C^! I1CR$]&1>-!H$7PY*QSCT[!]A^%K]2^
M49.$;4#(N^J#KBH/Z67#R*PX&*^E@6-V<;EC%%:$?0!^WTAI/AOVK%W]53+Y
M!U!+ P04    " !O22A8GZ ;\+$"  #B#   #0   'AL+W-T>6QE<RYX;6S=
M5VUKVS 0_BM"/V!N8FKBD1BV0&&PC4+S85^56'8$>O%DN7/ZZZ>S;"=I=67=
MA['-H<G=/;J[1W<GF:Y;=Y+\X<BY([V2NMW0HW/-^R1I#T>N6/O.-%Q[I#)6
M,>=56R=M8SDK6W!2,EG>W&2)8D+38JT[=:=<2PZFTVY#;VA2K"NCSY:4!H-?
MRA0GCTQNZ)9)L;=B6,N4D*=@7H+A8*2QQ'DJ?$,78&F? KP(&K <XRBAC05C
M$C*$[_VX_!DP::U7A90SP24-AF+=,.>XU7=>&18/QA<0&>7=J?$,:\M.B^4M
M/3L,/S[)WMB2VSG-@DZF8BUY!72LJ(_PZTR3 .B<45XH!:N-9@.'R6,4?-@#
ME_(!6OBMNHK=5R3TXE,);2"PU4GTA$8QA D*Q+^,%F)?A+W]K;"D$8_&?>S\
M;O2@?^^,X_>65Z(?]+Z:\V/1%WATUC3R]$&*6BL>]O[+"8LUF_S(T5CQY+/!
MI!R\@5M*'KEUXG!I^6%9L^.]FZ:IKW#.RW^0\Y^M<\TUMTQ>DO:C_S=7^2V,
MD_'T7!S1JP,Z6PE<A!OZ%>Y7>>9 ]IV03NA1.XJRY/K%.?7A'=O["_PJOE]?
M\HIUTNUF<$//\A=>BD[E\ZI[J,NXZBQ_AOMHD<VWL,\E=,E[7FY'U=;[021>
M\%G'!QR>(W?#$T<PGX#%$<"P/!@#S"=X87G^I_VLT/T$#..VBB(KU&>%^@2O
M&+(=/EB>N$_NG_A.\SQ-LPRKZ'8;9;#%ZI9E\!>/AG$##RP/9'I;K?%NXQ/R
M^AQ@/7UM0K"=XI.([12O-2#QNH%'GL>[C>4!#ZP+V.Q _G@>F*FX3YI"5S%N
MV G&D3S'$)C%^(QF&5*=##[Q_F"G)$WS/(X %F>0IA@"IQ%', ;  4/2='@/
M/GL?)=-[*CG_5U/\!%!+ P04    " !O22A8EXJ[',     3 @  "P   %]R
M96QS+RYR96QSG9*Y;L,P#$!_Q=">, ?0(8@S9?$6!/D!5J(/V!(%BD6=OZ_:
MI7&0"QEY/3P2W!YI0.TXI+:+J1C]$%)I6M6X 4BV)8]ISI%"KM0L'C6'TD!$
MVV-#L%HL/D N&6:WO606IW.D5XA<UYVE/=LO3T%O@*\Z3'%":4A+,P[PS=)_
M,O?S##5%Y4HCE5L:>-/E_G;@2=&A(E@6FD7)TZ(=I7\=Q_:0T^FO8R*T>EOH
M^7%H5 J.W&,EC'%BM/XU@LD/['X 4$L#!!0    ( &])*%@<.&7J/P$  #P"
M   /    >&PO=V]R:V)O;VLN>&ULC5'+;L) #/R5U7Y $U"+5$2XE#Z0JA:5
MBON2=8C%/B*O RU?7R=15*1>>O)Z;(UG9A?G2,=]C$?UY5U(A:Z9FWF6I;(&
M;])-;"#(I(KD#4M+ARPU!,:F&H"]RZ9Y/LN\P:"7BY%K0]EU$QE*QA@$[( =
MPCG]SKM6G3#A'AWR=Z'[MP.M/ ;T> %;Z%RK5,?S2R2\Q,#&;4N*SA5Z,@QV
M0(SE'WC;B?PT^]0C;/8?1H04>I8+8864N-_H^8UH/($L#UW+\0D= ZT,PS/%
MML%PZ&C$179EH\]AK$.(<_I/C+&JL(15+%L/@8<<"5PG,*0:FZ15,!X*/:XH
M$ZQZ#"PAJ748J&2W<RJGUW9PS2+W*D.:HPQH;0?AHUH+%0:P;W(@"2[)E1M2
M7>EYIK=WDWM)J'7N0;#W\!J-'<V/'[?\ 5!+ P04    " !O22A8)!Z;HJT
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M2P$"% ,4    " !O22A8!T%-8H$   "Q    $               @ $
M9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0    ( &])*%@_.JH:[@   "L"   1
M              "  :\   !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0    (
M &])*%B97)PC$ 8  )PG   3              "  <P!  !X;"]T:&5M92]T
M:&5M93$N>&UL4$L! A0#%     @ ;TDH6'"4MJ%F!   -A$  !@
M     ("!#0@  'AL+W=O<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0    (
M &])*%B?H!OPL0(  .(,   -              "  :D,  !X;"]S='EL97,N
M>&UL4$L! A0#%     @ ;TDH6)>*NQS     $P(   L              ( !
MA0\  %]R96QS+RYR96QS4$L! A0#%     @ ;TDH6!PX9>H_ 0  / (   \
M             ( !;A   'AL+W=O<FMB;V]K+GAM;%!+ 0(4 Q0    ( &])
M*%@D'INBK0   /@!   :              "  =H1  !X;"]?<F5L<R]W;W)K
M8F]O:RYX;6PN<F5L<U!+ 0(4 Q0    ( &])*%AED'F2&0$  ,\#   3
M          "  ;\2  !;0V]N=&5N=%]4>7!E<UTN>&UL4$L%!@     )  D
*/@(   D4      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.23.4</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>23</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>0</UnitCount>
  <MyReports>
    <Report instance="d551551d8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>100000 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" isOnlyDei="true" original="d551551d8k.htm">d551551d8k.htm</File>
    <File>twlo-20240107.xsd</File>
    <File>twlo-20240107_lab.xml</File>
    <File>twlo-20240107_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="23">http://xbrl.sec.gov/dei/2023</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>17
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "d551551d8k.htm": {
   "nsprefix": "twlo",
   "nsuri": "http://www.twilio.com/20240107",
   "dts": {
    "inline": {
     "local": [
      "d551551d8k.htm"
     ]
    },
    "schema": {
     "local": [
      "twlo-20240107.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://xbrl.sec.gov/dei/2023/dei-2023.xsd",
      "https://xbrl.sec.gov/naics/2023/naics-2023.xsd"
     ]
    },
    "labelLink": {
     "local": [
      "twlo-20240107_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "twlo-20240107_pre.xml"
     ]
    }
   },
   "keyStandard": 23,
   "keyCustom": 0,
   "axisStandard": 0,
   "axisCustom": 0,
   "memberStandard": 0,
   "memberCustom": 0,
   "hidden": {
    "total": 3,
    "http://xbrl.sec.gov/dei/2023": 3
   },
   "contextCount": 1,
   "entityCount": 1,
   "segmentCount": 0,
   "elementCount": 24,
   "unitCount": 0,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2023": 23
   },
   "report": {
    "R1": {
     "role": "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation",
     "longName": "100000 - Document - Document and Entity Information",
     "shortName": "Document and Entity Information",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "duration_2024-01-07_to_2024-01-07",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d551551d8k.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "duration_2024-01-07_to_2024-01-07",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d551551d8k.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_Security12bTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Security12bTitle",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security 12b Title",
        "terseLabel": "Security 12b Title",
        "documentation": "Title of a 12(b) registered security."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "terseLabel": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "terseLabel": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Emerging Growth Company",
        "terseLabel": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CityAreaCode",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "City Area Code",
        "terseLabel": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Incorporation State Country Code",
        "terseLabel": "Entity Incorporation State Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Tax Identification Number",
        "terseLabel": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, City or Town",
        "terseLabel": "Entity Address, City or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentType",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "terseLabel": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "terseLabel": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_TradingSymbol": {
     "xbrltype": "tradingSymbolItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "TradingSymbol",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Symbol",
        "terseLabel": "Trading Symbol",
        "documentation": "Trading symbol of an instrument as listed on an exchange."
       }
      }
     },
     "auth_ref": []
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Local Phone Number",
        "terseLabel": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Two",
        "terseLabel": "Entity Address, Address Line Two",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, State or Province",
        "terseLabel": "Entity Address, State or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity File Number",
        "terseLabel": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line One",
        "terseLabel": "Entity Address, Address Line One",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_SecurityExchangeName": {
     "xbrltype": "edgarExchangeCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SecurityExchangeName",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Exchange Name",
        "terseLabel": "Security Exchange Name",
        "documentation": "Name of the Exchange on which a security is registered."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre Commencement Issuer Tender Offer",
        "terseLabel": "Pre Commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "label": "Cover [Abstract]",
        "terseLabel": "Cover [Abstract]",
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre Commencement Tender Offer",
        "terseLabel": "Pre Commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Postal Zip Code",
        "terseLabel": "Entity Address, Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Soliciting Material",
        "terseLabel": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "terseLabel": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://www.twilio.com//20240107/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Written Communications",
        "terseLabel": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Section": "14a",
   "Number": "240",
   "Subsection": "12"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>18
<FILENAME>0001193125-24-004000-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-24-004000-xbrl.zip
M4$L#!!0    ( &])*%C9E41([1H  !*B   .    9#4U,34U,60X:RYH=&WM
M7>U3XSC2_WY5]S^HV-TKJ,J;0Q@@,%PQ(3/'[0Q0P-[N\WS94FPE\8UC^60;
MR/WUU]V2WQ(["2' S"Y7S[-#8EEJM?KEUZV6<OSWAXG'[H0*7>F_W[(:K2TF
M?%LZKC]ZOQ5'P_K!%OO[R5__<CR.H"$T]L.N(]SW6^,H"KK-YL- >8U0V(V1
MO&O"@V:[U=[=,@WCL!Y- Q&FK8<\'#2D&C63)X7FOO3]>)(VOK^_;U#W^((3
MJ2:^T81&=6@EE&LG[SUXKO^U\-K]+KUD'1X>-NEITG2N93I N]7:;>+C 0]%
MTCRZ]V2A>73O>JYLV'*"E'=:5FL_I2)TRVB ?JWF;U\^W]AC,>%UUP\C[MOI
M"'&D*NDY;,+3I*$;RD[;VE] O&F1OO!0U=:"MCY,5?SVX?ISUCPJ;Y\U;4:*
M^^%0J@F/0%RPI[UZJUUOO\MU4@=A*'24",>R?@[JNU;*2QC<7335&2[B4V=&
M*$WC=TW]T#2M%A,4\"V2=,$=_#=R(T^<'-1_/F[J/^&[B8@XPQ[JXC^Q>_=^
MJR?]2/A1_19D<XO9^M/[K4@\1$WJD37QO:;IE#%V/)#.].38<>]8&$T]\7[+
M<</ XU.4?[%UPH[=ARXV%\K\[3J.\/7?T.1""S]SG?=;_Z!'OX/>_=[W@<CI
MM1BY(;(WNN 3(,B'_\( PNV6/R>"'Z)K,816L:+U^!TEN]ZRZJW]WR.9^[1U
M<OOK^>?S2W9^T3MN%JB9HRX;^'0B? ?^/_KH\=&C1QQR+Q3+!BME10^&5-P[
M]QWQ\+.8SO-BKL$C26N!9G<Z^^_>'<[3UYQ9-R6&0H%A%2%\1BO3#<D>P%B,
M#%07C=O[K="=!!Z*-7TW5D@*&J%Z8FT:#Z&3/.;*5A(%:&5[]@R6\N2X69R/
MF7UAQO0YE+'2'TF]NX;=M'HKL#MY3=#BI1]=![\8ND(Q(D&4&I_>^<_%!9M]
M&:DN[3^ %95.^A'LCHK.>"1.,MJ2-[-G&:U.1=OD23IL.DZSP)V4FQGWFGG[
MT 0[ O_DK F^5>>>._*[-LQ%J*WB\WO7B<;=@\:>ZQ_EVGIB&!U-N!JY?AW_
M[C(>1S+Y1KFCL?D*NPN2SM"DU\>"G@)X"-(N(AET<Q\',HKDA+X92 6D)]]8
MP0,+I><Z[(<6_6_KY&\_6.]:1\?-H&J@W>4#M=<>*-=M!SIA\Q-@0UB:>NC^
M5W2M@_3SD$]<;]J]=2<B9!?BGEW+"?>/Z-F]IGL@/>>H9'E^N3B_[9^QF]O3
MV_Y--3FM%R+GIM_[Y?K\]KQ_PTXOSEC_M]X_3B\^]5GO\LN7\YN;\\N+)]'8
MW@2-O_)P#! UDGZ-G35Z#=9N[74.9^C*!CU803"+\K!,H4H%\]U:@MEH0;.B
M;!YI)6U;/\U/?D4ES2:3V(BR]3IX(9GZ>'G]A1V' ?=3,S1V(U&';VP!KO->
M\0!<216&.)-VC! BA[)6]].$X(H.^KB)I)R\R<LSR,M&]!LLT'7_XI9=]Z\N
MKV]?W]Y<Q2J, 36S2+(;8:/$:899NTPJ9NUM.SNO3Z4<LF@LD,!8N9$+[_<?
M[#'W1X*=VA&#Q];A;J>:SI=:740^2,VU"*2*V';R67! /B*,F+B#EDS18^'L
M=*NCB\0R7!%\ZFM4]5@3P70L^GX+XM>N QU,X/6QPZ=3H$CX6R?_Y'[,U50O
M^7Z-X;OS-N7-F&S:F+0[FQ"WHN-AF*&HNP]U'9]UE\70)[>4\V'GOMTP?H,]
M2=5;FYC3=O^!@TJC(J#FJ)1FQD,6!L+&J,9AKL_<*&1@!$"1U*R)>I/1<AE]
M E\P;\0'GF"V\#Q$-Y1(;6W1YX [3O+9#&6F:DO/XT$HNLD?BR6$%2G4S+!:
MK9\,Z[HM0V:WE<1L2)C2_SC%4'"W\Q-&\9$S\_1.J,BUN6>8JR=<VM+TTWY$
M/PG-Y:_,=@C_,;2KI$G 1Z(^4()_Q9PJ!/)=?B=!0%9FG$5+5QR7Y82)%:2I
M2W+$9N8",@$4YJW+K.XN +7:VH!9D0K\'+FHFPB<3T_&?J2F/>D\R9&AF<.4
M1"0")>]P6/1D9\+C]^#4*A'QJF*0R/Q<^V?AX=J1@V;R1]<3\&P INGQ63ZK
MOKM_T'I7R;$_,N-N^<.YR9'9Q*DUN=A^5V_O[7<..JT5V/@<VGZP(65?U^MO
M)(K>)ON  8<$G*_8OP'FAXY+X<BC((GU#,0!"G'SMFQ'N];748O77::>G$S<
M,/P65@4M']-*^R=>D//K&]:?!)Z<"O7J2U(TJ.Q"-K*5(=,'_T$(N7Z0OI$(
M8XEG.'4<)<+0_/,90+[U:*]@M2QV$T",S6XB)40TZQMJU7%_%1'M1Q/QT1U&
M8_;1DU(M">E?(<Q;;?X]^/-2W<I[_]&SOP%X\!'B1ML-;;DN_\DM7:HKP)DN
M[<IO&K7V@"O0R'?YZOO.!0JO)/3I_;\;K(.J3PX[5FMOD\*Q&:MFYH;Q?Z"
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MM0! C%$RJ/J5Q_57J#O:@6DBDMP.024E:-A:-JN<MM71ZCD0L:.="!/0F,W
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M]RH1Z(H0$29B@N3";6/"P\]_>NSF!+HY_E@=;5QBTZXX3G/T1B8'$M$$X3/
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MF]&L;PKV/+9;]\38^V!KAQ#L8EFI@<L\!V>N"-8!N_OT$>]NM_H<CO"MC$]
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MX0:@<+M5F8RD#GI7<JBVJ]OBJK6) +<28\_AHM,_[$D?HV5SB_MJ^8,?(;?
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MMQ+_1H<?Q27JC/[LML$?L,6'*'<I-*-CF'19Y@7&4.JQ_7NA2HK7L5\6'I?
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M/Q@H\5PL2 =UYE&^<]D0GP>MQ;E;V.FS 99E7K5VKL5H5GS,EJW )'MH.2N
MJ<HNM/%TV$:-@/H=1 AHL"GCXT!@4^M%?H-4;(T1TD8=E *I)6BN2W$@U+'9
MGT7!I!%L.%CN-$RDBS'HO8Q<M.URG%_DWH95L9XFLAK96>6I]@>^>]M!I!U\
M6;@^V)85TJM=!=:R#59:CK1;TC%Z:72![3SHAJ$N[/+&VU)ILK,E"%#V5TCH
MC>-<9."D8 1C.#=4B;L!9NVV0"]$%JZ.M^<6<N6;N1&QA7P5 0\C-0,-32QT
MZ,PS)V*<!][8GJ,E(N*8$P["I]D ^2L'Y/ZP;*XC#Q(#!U14\W@U^K++5G+I
M\(8N7&/D,KIR;WS>(IHEG5'0R!B#Q\IJS.Q8G!! 5VA)DA18!^$DEW26BY=E
M;DP14%&R<L)M8)]$4EWNNLOL'HX9?D/F7U>L8^?!A&] <F1@7CMTX-C&JAC*
M*\.4D;/SBATS1-].)/$4K!F',P;J+FLMJFOHSB&=6YR_!-VWO@E^#-0.\C&0
M7.2VD(VM)$+ >V6)DS6NI6[DFV0LSB5+@^?&:XL :K$3WF<8P),HRHCNO6*N
MQ(>5@YZ&W%O6GWCQG0-JCF<G>L$(7A] WCYC!'7KM^*$05Y,WQ%QEDE9F35!
MC5]<U&2$$H! OA@9Z#:;@^0^M6Y(WS?:W#!?J;7I 4S^1E/RSH?OPFT#Q/RA
M,&\?5V37GM746T*F5P9XL2ZY"#4.A('"F6,/,M.%=ZA*<ZI*<XC8M=MT1=LU
MQ;W-\-22)A/B3=$O;CVRUFE D9>" 22.N) \O3:_?#;/8PHD_,9F-\SS-7O6
MHQ,:FT/;.F6%G?ZMP'L,4_%AHTRXO&( 8;HT#GN[\@QLE==L^H,QM5W33==P
MB?9?>+I'&CMS*FYK6@#2LF9]M$C*MY*NPREWR(59 UM-T<&AI9@9A*XBM-.4
MQW1(YO-^DZ+.\$MT;HV34K:<Y"-20;YR<FB@95G/-?]$ S.^#$E0@J^LLC('
MIJ#>$J^D5G',ZQOV39 @)P4^H/=)S%U<)V@H79)8^@J V@$<JIC1J+SDX@Q,
MO1B3,VU6\V>"Z!5K6Z' __'1?NBM08/6<@KV T\Z6YY1>E^$F<I4FD_SNB2V
M*+L@J3+XW@,'^E8,O.)8<?DQN<[R%6I*'[Z(A\=''&KI13_WS_M7O;/HJG_6
M[UWWH].+_G5T?C&,^O\>]L]/H^%%='+6&[RZCH8O>\/.UO!E/SJYZI\.AA=7
M$?S+[PW.?XXN>U?#-^[]?YU?_(8/7+^^ONR?#+&A_K\'U\-H<!Z]'%SC3R_[
M5]&+WJ_P5P]^AX:'@U?]Z.(%/-@_>3W$1O%;,[0>#@<&T8T&+ZCY\^CX#;3U
M2MKJ1K]=O#X[C5[V?NU'KWJ@=@YZ9V=OHMZ+%S" _JG?[75_.#SKOP+E%+36
MX4OJY[1_'$RJ?]K9HDGM<.C)YOA_28;[A!AN[[3?BYCKMF<T!#S5'5*D]IL\
M!0M*%8D<$0-*=)S7JH\VO0Q=_#?:LT9,W.-]/'G&+>=R_1K#]R*6SNL1QI^G
M\"Q'H<E_Z-Y'?I0X'B A$,ZEAB,')G--;IDP=<FDXYC4P#!YREM(3B5<.9#?
MX$I_+? YR5V?JD@OH\0M<2U%33L.13L&2[6H 4%6O9.7!VR4?P.__8TPWT0*
M,W*Z(1>K4X$0(,A(W-HNU5OR>E84R UXZV^$\Q>%-EL?S_X>V(ZIQI@;YYE(
M.HHDZ^56.C:U\_O*>-"-^3&>Y3E')IC2T)SM;#%*L7BPCLJ^<:>_+#37$MF3
M!HV%N4R-\A/:(S)R.=WD:$M6F_#=WUC5YZ$B_2>DHI B;$4C! ?;M"$/%(W6
MQ(QB+ UM*2'XH3C0FR48*J&SN+.55%ZMD# S*< MW\G./K^#T9Z&8$T\Q#,&
M9 E2?*HR!1KF-$,CPX:4$ 3-I4-<PB["FO_O]]]___^ZG:VP*HP+M-T997ZR
M#0MN0\R$PU[Q[I!G*(]M#*GLHI,?GN7PHU=5P4#A&Q(GSF6C2K I";ZD7-B9
MX)59)D9C#D8E6(DIT/%=0]_?\\<>VH*2_DV =C]TQT[1ED<;8-)3,/VPP&"S
M]E>K <U%3[0I7-%TA8EI'1C6RYT(G<ZN' K7/,$S@BC82-5 :#"^,;DV4;+'
MA;K-,)9)-41X0<66\$^9Q!#-^+^\M_>IJ=W4BQ%;9Y/7SW,VN%LJV" R >M;
M"$Y#<PFBJ )^*5%8U(I-<XTP*3Z\$BL21UJ:",:LR^#&."?851.\1>&T;V'1
MST4!STS] @SGXY9?V/BA>/M[%=>6H3>#JDI>?3G!J(QRQ V,EA(38*Z4!P4(
M\'6_9F+?B\_[50;@5^M?[\*'&PF;]%R4%,]HKQ@EE3 '3Z$Q<D=49(K[ LUF
M@J^AD=R)"F^6<UQ3 B&L<85G8T'LBW5[C#%0;1 ^'&&ID&,I%6)ZYB"<4'J0
MR$@BM11W7.#0?N)P&NMJ-(0%^/#KV$1PO7B$K70H,7.'=3?6KDVXPLP<,#<8
M!XM1S PSF!K%:<A)UZC*-5.X%561Q_58JE,DF;!E!0*#DJ?+#447.;)L1 :"
M_?8Y&\RK?Q;;7'V"[A0VA*NSJ9IZ97$DZM:82+-')+,PD\LC.A]FL(HMN'-K
MNHY*"KU(U=@A2]HI>Z6/1UQU@U)\7. $=A=GZ*&)/!S0'2-:AN$].DN-:D^=
M+>,O/M43U&"&!2H3,+)".V@KII-R<XQG$WURIM&/P@YF%)@85\5 3,HR(-4>
M+M]TDYN*<15U5%)'%(8Q+F3$L*<Y)KG0;H</TASN]V0+8;%)][$'C)D#K0=G
M *H5R"'T0JC#SM840_,"T\!4F@2?T@DYFAD0QG,"CBR?Z&T^8,9==-"@JC)/
M$7)@)D-%0TM1(0W:-HSVHXX"!$R14"PCT)"1#%HY;LP853@7Y78PD#@?US0C
M+F=%CR$JJ4[<0ZBWYF-@'226$U'/,!\*%07I@'>NU"H-/?!->LI$P4 <F:+:
M,:NJ!D5_2RE7*O!S6,7[RF+0Y@3]1+*P#"K<-[MMD=LU^" 8/$JUG(NF$N1E
MV?Q0#.CSTGA5\Q)?,AF,GRC]81FM;G1_)*/%E350"CI-B HPF1N%MRG88%@
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M V#"LL][=;1PM.%.F3HBV*3.IF0QRJ'%7%^+6C&-?2N>\!G/E-68E4M'7ZO
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M&XK-'I[419:4,W>CRG7_A $MDBOY86GQAP^/+T[?P)<OAZ_.COX_4$L#!!0
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MI*DFZN!J%^<_S/Z'/#2<#!J"@+1.6VFZ\I1&"/ QCR@A((C#(H Z4=I?504
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M%?I<L6D#SST[_H"+_(/ _P]02P,$%     @ ;TDH6!3;%>X] P  10L  !$
M  !T=VQO+3(P,C0P,3 W+GAS9+U6WV_;-A!^+]#_X:JG#IA$R6[718A3=$L#
M!$BSPDV'O16T=':(4J1&4G'\W^](28[LQ)Z3%/6+:=Y]=]_]I(_?WU82;M!8
MH=4DRI(T E2%+H5:3*+&QMP60D3O3UZ^.'X5QW!Z=GX),5P[5]N<L>5RF91S
MH:R6C2,+-BETQ2".>_T_K[["WZWU'*8HD5N$BEN'!OYHA"SS43H:9VDV2D9#
MF$'N[4')'>:0L=\9Z;V!-WF6Y6D&GS_!QV!$P96H<(C4]<J(Q;6#U\4O$$"G
M6BF4$E=P)A17A> 2OO2$?X5S523P04J8>I@EEA;-#99)9_76EKDMKK'B+U\
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MY#KE';C3V ?<+M;AR#MFNW'=;5^N?HC9]A1W-\-I;Z_:;4,__P-02P,$%
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M7X;]R//-80S1!8W)I]5B2D2SB2GG=3H>!@/<?-T=_*=:N)1K=<CDD8#&[M=
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M-_L()Y;\!5!+ 0(4 Q0    ( &])*%C9E41([1H  !*B   .
M  "  0    !D-34Q-34Q9#AK+FAT;5!+ 0(4 Q0    ( &])*%A"+<!\%AL
M ,QN   1              "  1D;  !D-34Q-34Q9&5X,3 Q+FAT;5!+ 0(4
M Q0    ( &])*%ASZ5I:!R\  !K'   1              "  5XV  !D-34Q
M-34Q9&5X,3 R+FAT;5!+ 0(4 Q0    ( &])*%CXOE1ZE18  !=8   1
M          "  91E  !D-34Q-34Q9&5X.3DQ+FAT;5!+ 0(4 Q0    ( &])
M*%@4VQ7N/0,  $4+   1              "  5A\  !T=VQO+3(P,C0P,3 W
M+GAS9%!+ 0(4 Q0    ( &])*%AZK7 +?@8  +A&   5              "
M <1_  !T=VQO+3(P,C0P,3 W7VQA8BYX;6Q02P$"% ,4    " !O22A8%@=R
MW\0$   Z+   %0              @ %UA@  ='=L;RTR,#(T,#$P-U]P<F4N
9>&UL4$L%!@     '  < O@$  &R+      $!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
