Klaviyo, which provides a software platform that automates digital marketing campaigns, announced terms of its IPO on Monday.
The Boston, Massachusetts-based company plans to raise $499 million by offering 19.2 million shares, or 40% of the secondary, at a price range of $25 to $27. Some cornerstone investors have suggested offering $100 million worth of shares (20% of the deal) in the offering. At the midpoint of the proposed range, Klaviyo would have a fully diluted market value of $8 billion.
Klaviyo's SaaS platform combines unique data and application layers into one vertically integrated solution with machine learning and artificial intelligence capabilities. This enables business users of all skill levels to leverage data to send the right message at the right time through email, SMS, and push notifications, more accurately measure and predict performance, and target specific actions and campaigns. It is believed that it will be possible to expand Bring the best impact. The company is focusing on marketing automation in retail and e-commerce as its initial application use case, and believes its software is scalable across a wide range of functions and verticals. As of June 30, 2023, the platform has expanded to over 130,000 customers.
Klaviyo was founded in 2012 and posted revenue of $585 million for the 12 months ended June 30, 2023. The company plans to list on his NYSE under the symbol KVYO. Goldman Sachs, Morgan Stanley, Citi, Barclays, Mizuho Securities, William Blair, Piper Sandler and Trust Securities are joint bookrunners on the deal. Prices are expected to be set the week of September 18, 2023.
