Dive Brief:

• Cloud communications platform Twilio now has more than one million users, including corporate behemoths like eBay, Wal-Mart and Coca-Cola, the International Business Times reports. 

• CEO and co-ounder Jeff Lawson says over 12 months, Twilio's 30,000 customers power 75 billion connections across 1 billion devices. But the company, which went public in June last year, has seen its stock fall 27% over the last six months and has yet to turn a profit.

• Lawson says his company is now making international expansion a priority because "communication is a global challenge and our platform needs to be able to reach every phone on the planet."

Dive Insight:

It may not have the same brand recognition other tech companies do, but Twilio’s API tech powers some of the most popular apps around. Despite its recent slump, Lawson sees a strong future for the company, which among other things serves as the "engine" that powers the communication functions on Uber and AirBnB.

Twilio’s platform uses APIs to allow businesses to add messaging, voice and video to web and mobile applications, and so far few companies have even come close to Twilio when it comes to enabling innovative APIs.

APIs are all about creating a more fluid digital experience, and the market is set to quickly grow in coming years. With the growing demand for digital interactions, companies are expected to spend $3 billion on API management by 2020, according to Forrester.