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Klaviyo raises IPO price range, aiming for $9 billion valuation - TL;DR CNBC

Klaviyo raises IPO price range, aiming for $9 billion valuation

Publishing timestamp: 2023-09-18 10:50:01


Summary

Klaviyo, a marketing automation company, has raised the proposed price range of its shares in its initial public offering (IPO), targeting a fully diluted valuation of up to $9 billion. The IPO comes after a long stretch of few significant venture-backed tech IPOs, but with the recent IPO announcements of Instacart and Arm, there are signs that tech offerings could be making a comeback. Klaviyo's IPO could potentially encourage other tech companies to follow suit. Shopify owns about 11% of Klaviyo shares, and a significant portion of Klaviyo's revenue comes from customers who use Shopify.


Sentiment: NEUTRAL

Tickers: SHOP-CASHOP

Keywords: marketstechnologybusiness newsbreaking news: marketsshopify incklaviyo incbreaking news: technology

Source: https://www.cnbc.com/2023/09/18/klaviyo-raises-ipo-price-range-aiming-for-9-billion-valuation.html


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