Cloud communications company Twilio Inc. is preparing itself for an initial public offering (IPO,) although is in no rush according to a report published Friday.

The news comes as the company reported revenue in excess of $100 million for 2014, and is adding an additional $1 million in annual recurring revenue every 7 days.

The Wall Street Journal quoted Twilio investor Scott Raneyof Redpoint Ventures saysing that Twilio’s is in a strong position financially,” and that the company will prepare itself this year for an initial public offering by putting internal processes in place, but no IPO date has been set.

“There’s no rush to go public,” Mr. Raney said. “This is a company that’s easy to finance.”

Founded in 2007 Twilio offers sells an API which enables developers to voice, VoIP and SMS apps via simple code.

It’s easy to be skeptical about startups who promise to change the world, but when Twilio says that it’s “reinventing telecom by merging the worlds of cloud computing, web services and telecommunications” it’s actually a highly accurate description. The API allows third party companies to simply implement telecommunications features without the need to build their own. Say for example you’ve just started an Uber like company and you want to have SMS messages sent as booking confirmations, this is where Twilio would step in with its API. With access to the API you add the code to your shiny new Uber like startup and bingo, you now have SMS support without having to spend a pile of money building the app feature from scratch.

Twilio might not be a household name, but many of the companies its API powers certain are: Uber Inc., AirBnB Inc., OpenTable Inc., Box Inc., Home Depot Inc., eHarmony Inc., The Coca-Cola Company, and many more.

Twilio is not unique in the market, with the company facing competition from companies including Nexmo Inc., Tropo Inc. and Plivo Inc., however it was among the first in the space and their ongoing results do speak to their success so far.

The company has raised $103.7 million to date over 6 rounds from a big pool of investors that includes Redpoint Ventures, Draper Fisher Jurvetson (DFJ), Bessemer Venture Partners, K9 Ventures, 500 Startups, Union Square Ventures, SV Angel and others.