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2023-09-21

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Marketing Firm Klaviyo Spikes 23% on Its First Day of Trading

Marketing firm Klaviyo open on flat on its first day of trading.Marketing and data automation provider Klaviyo Inc. priced its initial public offering above a marketed range to raise $576 million in t

Marketing Firm Klaviyo Spikes 23% on Its First Day of Trading

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At the IPO price, the Boston-based company has a fully diluted value of about $9 billion.</p><p style=\"text-align: start;\">The share sale comes on the heels of Tuesday’s trading debut by online grocery delivery company Instacart, whose shares rose 12% after its $660 million IPO. Both companies are following in the wake of SoftBank Group Corp.-owned semiconductor designer Arm Holdings Plc, which lodged the year’s biggest US IPO at $5.23 billion and then rose 25% Thursday in its trading debut.</p><p>Like Arm and Instacart, Klaviyo signed up cornerstone investors. BlackRock Inc. and AllianceBernstein LP expressed interest in buying as much as $100 million of the IPO shares in aggregate, according to Klaviyo’s filings with the US Securities and Exchange Commission.</p><p style=\"text-align: start;\">Klaviyo had net income of about $15 million on revenue of $321 million for the first six months of the year, compared with a loss of $25 million on revenue of $208 million for the same period last year, according to the filing.</p><p style=\"text-align: start;\">The company’s investors include growth equity firm Summit Partners, e-commerce platform Shopify Inc. and venture firms Accomplice and Accel. Summit is selling 4.9 million shares in the IPO, while Accomplice is selling almost 1.8 million.</p><p style=\"text-align: start;\">Klaviyo’s largest shareholder will remain co-founder and Chief Executive Officer Andrew Bialecki, who will control 39% of the voting power, followed by Summit with 21%, according to the filings.</p><p style=\"text-align: start;\">The offering is being led by Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. Klaviyo’s shares are expected to begin trading Wednesday on the New York Stock Exchange under the symbol KVYO.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Marketing Firm Klaviyo Spikes 23% on Its First Day of Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarketing Firm Klaviyo Spikes 23% on Its First Day of Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-09-21 00:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Marketing firm Klaviyo spiked 23% on its first day of trading.</p><p>Marketing and data automation provider Klaviyo Inc. priced its initial public offering above a marketed range to raise $576 million in the third major US listing in a week.</p><p style=\"text-align: start;\">Klaviyo and a group of its current investors sold 19.2 million shares Tuesday for $30 each, after marketing them for $27 to $29 each. At the IPO price, the Boston-based company has a fully diluted value of about $9 billion.</p><p style=\"text-align: start;\">The share sale comes on the heels of Tuesday’s trading debut by online grocery delivery company Instacart, whose shares rose 12% after its $660 million IPO. Both companies are following in the wake of SoftBank Group Corp.-owned semiconductor designer Arm Holdings Plc, which lodged the year’s biggest US IPO at $5.23 billion and then rose 25% Thursday in its trading debut.</p><p>Like Arm and Instacart, Klaviyo signed up cornerstone investors. BlackRock Inc. and AllianceBernstein LP expressed interest in buying as much as $100 million of the IPO shares in aggregate, according to Klaviyo’s filings with the US Securities and Exchange Commission.</p><p style=\"text-align: start;\">Klaviyo had net income of about $15 million on revenue of $321 million for the first six months of the year, compared with a loss of $25 million on revenue of $208 million for the same period last year, according to the filing.</p><p style=\"text-align: start;\">The company’s investors include growth equity firm Summit Partners, e-commerce platform Shopify Inc. and venture firms Accomplice and Accel. Summit is selling 4.9 million shares in the IPO, while Accomplice is selling almost 1.8 million.</p><p style=\"text-align: start;\">Klaviyo’s largest shareholder will remain co-founder and Chief Executive Officer Andrew Bialecki, who will control 39% of the voting power, followed by Summit with 21%, according to the filings.</p><p style=\"text-align: start;\">The offering is being led by Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. Klaviyo’s shares are expected to begin trading Wednesday on the New York Stock Exchange under the symbol KVYO.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KVYO":"Klaviyo, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108135933","content_text":"Marketing firm Klaviyo spiked 23% on its first day of trading.Marketing and data automation provider Klaviyo Inc. priced its initial public offering above a marketed range to raise $576 million in the third major US listing in a week.Klaviyo and a group of its current investors sold 19.2 million shares Tuesday for $30 each, after marketing them for $27 to $29 each. At the IPO price, the Boston-based company has a fully diluted value of about $9 billion.The share sale comes on the heels of Tuesday’s trading debut by online grocery delivery company Instacart, whose shares rose 12% after its $660 million IPO. Both companies are following in the wake of SoftBank Group Corp.-owned semiconductor designer Arm Holdings Plc, which lodged the year’s biggest US IPO at $5.23 billion and then rose 25% Thursday in its trading debut.Like Arm and Instacart, Klaviyo signed up cornerstone investors. BlackRock Inc. and AllianceBernstein LP expressed interest in buying as much as $100 million of the IPO shares in aggregate, according to Klaviyo’s filings with the US Securities and Exchange Commission.Klaviyo had net income of about $15 million on revenue of $321 million for the first six months of the year, compared with a loss of $25 million on revenue of $208 million for the same period last year, according to the filing.The company’s investors include growth equity firm Summit Partners, e-commerce platform Shopify Inc. and venture firms Accomplice and Accel. Summit is selling 4.9 million shares in the IPO, while Accomplice is selling almost 1.8 million.Klaviyo’s largest shareholder will remain co-founder and Chief Executive Officer Andrew Bialecki, who will control 39% of the voting power, followed by Summit with 21%, according to the filings.The offering is being led by Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. 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