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Klaviyo's Wall Street debut opens with 22.5% premium, raising $345.2 million

EditorRachael Rajan
Published 21/09/2023, 04:52 am
© Reuters.

On Wednesday, Klaviyo Inc., a firm that provides software-as-a-service (SaaS) for digital marketing, made a successful entrance onto Wall Street. The company's stock opened at a 22.5% premium to its initial public offering (IPO) price, demonstrating strong investor interest.

The IPO was priced higher than initially expected at $30 per share, leading to the sale of 19.2 million shares. This resulted in Klaviyo raising an impressive total of $345.2 million on its market debut. Out of the total shares sold, the company itself sold 11.51 million shares, while the remaining 7.69 million shares were sold by existing shareholders.

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