Twilio is one of the clearest examples of expansion revenue driving enterprise value. In this episode, I break down how Twilio’s developer-first GTM, usage-based pricing, and broad product catalog produced dollar-based net expansion rates of 170% in its early years, held 120–130% at scale, and sustained net negative churn for over a decade.

We’ll look at the mechanics behind usage-aligned billing, why a $20 free trial could scale into $10M+ accounts, how cross-sell into email and data shifted margins, and how Twilio’s valuation swung from $60B at peak to 3.5x forward revenue as net retention cooled.

If you’re building SaaS, this is a clear case study in how pricing models and retention metrics dictate growth and market cap.

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📒 Resources

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📖 𝗚𝗘𝗧 𝗠𝗬 𝗕𝗢𝗢𝗞𝗦

🔗 CONTENT CAPITALIST: https://michaelbecker.org/product/content-capitalist-how-to-create-a-content-business-so-exclusive-customers-beg-to-buy-and-never-want-to-leave/

🔗 PRACTICES FOR SOVEREIGN LIVING: https://www.amazon.in/PRACTICES-SOVEREIGN-LIVING-Essays-Game-ebook

🎓 𝗛𝗜𝗥𝗘 𝗠𝗘

🔗 http://michaelbecker.org/services/

📌 𝗦𝗨𝗕𝗦𝗖𝗥𝗜𝗕𝗘 - 𝗕𝗟𝗢𝗚

🔗 http://www.michaelbecker.org

🌐 𝗖𝗢𝗡𝗡𝗘𝗖𝗧 - 𝗦𝗢𝗖𝗜𝗔𝗟

🔗 https://www.instagram.com/officialmbecker

🔗 https://www.linkedin.com/in/mjbecker

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