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Klaviyo’s Thrilling IPO Path Signals a Revitalized Market!

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Klaviyo's Thrilling IPO Path Signals a Revitalized Market!
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Marketing automation company Klaviyo has filed paperwork with the Securities and Exchange Commission (SEC) to join the public markets. Klaviyo plans to list on the New York Stock Exchange under the symbol “KVYO.” The company, which helps businesses target their email and text message marketing to shoppers, got its start in the e-commerce industry and has a strong relationship with Canadian e-commerce giant Shopify. Klaviyo reported net income of $15.2 million for the first six months of the year, compared to a net loss of $24.6 million during the same period last year. It had revenue of approximately $321 million for the first half of the year. With more than 130,000 customers as of June 30, Klaviyo has seen significant growth in its user base. Shopify owns roughly 11% of Klaviyo’s shares and the two companies have a partnership where Klaviyo is the recommended email solution for members of Shopify Plus program. Klaviyo’s IPO filing follows grocery-delivery service Instacart’s filing, as tech companies try to take advantage of an IPO window that has been largely closed since late 2021.

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