The IPO Buzz: Klaviyo (KVYO Proposed) Raises IPO Price Range

Shopify-backed Klaviyo Inc. (KVYO proposed), a marketing and data automation software company, raised its price range early today – to $27.00 to $29.00 – up from $25.00 to $27.00 initially – reflecting the warm buzz surrounding the tech unicorn’s IPO. The Boston-based company kept the number of shares at 19.2 million – 11.51 million shares from the company and 7.69 million shares from the selling stockholders. If the IPO is priced at the $28.00 mid-point of its new range, the deal will raise $537.6 million.

Klaviyo would have a valuation or a market cap of $7.05 billion, if the IPO is priced at the $28.00 mid-point of its new range. 

Goldman Sachs, Morgan Stanley, Citigroup, Barclays, Mizuho, William Blair, Piper Sandler and Truist Securities are the joint book-runners.

Klaviyo is not profitable. The company reported a net loss of $9.5 million on revenue of $585.1 million for the 12 months that ended June 30, 2023, according to the prospectus. 

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