- Date
- September 20, 2023
- Kind
- Industry development
- Significance
- Moderate
Klaviyo priced its initial public offering on September 19, 2023, at $30 per share, above the raised range of $27 to $29 it had set a week earlier (the original range was $25 to $27). The shares began trading on the New York Stock Exchange as KVYO on September 20, 2023.
The numbers, as reported by CNBC
- 19.2 million shares were sold: 11.5 million by Klaviyo and 7.7 million by existing stockholders.
- That put the value of the company at a little over $9 billion on a fully diluted basis and brought Klaviyo about $345 million.
- The stock opened at $36.75 and closed its first day at $32.76, about 9% above the offer price.
The figures come from press reports of the pricing; the company’s own announcement is listed in the sources.
Why it matters
Klaviyo is a marketing platform for online merchants that grew around email and customer data. A listing priced above its raised range shows investors were willing to pay for a platform built on merchants’ customer data.
What happened next
Klaviyo remains listed as KVYO; this site tracks it as a vendor.
Sources
- CNBC: Klaviyo rises 9% in muted NYSE debut after software vendor priced IPO at $30 a share (opens in a new tab)
- CNBC: Klaviyo valued at $9.2 billion after pricing IPO above range (opens in a new tab)
- Klaviyo investor relations: Klaviyo announces pricing of initial public offering (opens in a new tab)