Klaviyo Inc., a Boston-based software-as-a-service company, filed for an IPO on Friday and plans to list on the New York Stock Exchange under the ticker symbol “KVYO.” Goldman Sachs, Morgan Stanley and Citigroup are the lead underwriters to a team of 12 banks working on the transaction. Proceeds will be used for working capital and general corporate purposes, including growth financing. Founded in 2012, the company posted a profit of $15.2 million for the first half of 2023, after a loss of $24.6 million in the same period last year. Revenue increased to $320.7 million from $208.3 million. “Klaviyo enables companies to drive revenue growth by making it easy to bring their first-party data together and use it to create and deliver highly personalized customer experiences across digital channels,” the company’s filing documents read. The Renaissance IPO ETF (IPO) is up 25% year to date, while the S&P 500 is up 14%.
– Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently of Dow Jones Newswires and The Wall Street Journal.
(ENDS) Dow Jones Newswires
8/25/23 1354ET
Copyright (c) 2023 Dow Jones & Company, Inc.
Comments are closed.