Marketing Automation Firm Klaviyo Boosts Target IPO Price Range, Aims for $9B Valuation Amid Tech IPO Rebound

Klaviyo, a marketing automation company, raised its estimated IPO price range to $27-29 per share, up from $25-27, targeting a $9B valuation.
Klaviyo plans to list on the NYSE under the ticker "KVYO" as tech IPOs show signs of a comeback.
E-commerce company Shopify owns about 11% of Klaviyo shares.
About 75% of Klaviyo's revenue comes from Shopify customers as of end of 2022.
Klaviyo's IPO follows Instacart's IPO announcement and Arm's debut amid a dry spell for tech IPOs.

cnbc.com

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