Klaviyo (KVYO) Opens 23% Above IPO Price

Klaviyo's (NYSE: KVYO) IPO opened for trading at $36.75 after pricing 19,200,000 shares of its Series A common stock at an initial public offering price of $30 per share.

The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock to be sold by certain of Klaviyo’s existing stockholders.

Goldman Sachs & Co. LLC, Morgan Stanley, and Citigroup are acting as lead book runners for the offering. Barclays, Mizuho, and William Blair are acting as joint book runners, Piper Sandler and Truist Securities are additionally acting as book runners, and Baird, Canaccord Genuity, Needham & Company, and TD Cowen are acting as co-managers.

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