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
Keywords: markets, technology, business news, breaking news: markets, shopify inc, klaviyo inc, breaking news: technology,
Source: https://www.cnbc.com/2023/09/18/klaviyo-raises-ipo-price-range-aiming-for-9-billion-valuation.html