Klaviyo Inc, a marketing-automation software company, filed for an initial public offering (IPO) on Monday, to raise up to $310.7 million that would potentially value Klaviyo at about $6.8 billion.
The company plans to offer 19.2 million shares in the IPO, at an expected price range of between $25 to $27 per share, with 11.5 million shares coming from the company itself and 7.7 million shares from selling shareholders.
Klaviyo intends to list on the New York Stock Exchange under the ticker symbol 'KVYO’, with Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), and Citigroup acting as the lead underwriters.
The company reported net income of $15.2 million on revenue of $321.7 million for the first half of the year ending June 30, compared with a net loss of $24.6 million on revenue of $208.3 million during the same period last year.
Klaviyo co-founder and CEO Andrew Bialecki owns a 38% stake in the company, with other notable investors that include Canadian e-commerce giant Shopify, which owns about 11% of Klaviyo’s shares.
Klaviyo helps businesses, particularly e-commerce companies, manage and optimize their marketing efforts.
Its platform offers a range of tools and features for email marketing, customer segmentation, data analytics, and campaign management.
The company stated that it had more than 130,000 customers as of June 30, compared to 105,000 customers a year ago.
Contact Sean at sean@proactiveinvestors.com