Klaviyo Inc, a marketing automation company, has priced its 19.2 million share initial public offering (IPO) at $30 apiece, above its previously announced range of $27 to $29 per share, CNBC reported, citing people familiar with the matter.
The pricing would give Klaviyo a market valuation of $9.2 billion.
The media outlet noted BlackRock and AllianceBernstein LP have already agreed to buy up to $100 million worth of Klaviyo shares each.
Shares of Klaviyo are expected to begin trading on the New York Stock Exchange (NYSE) today under the ticker symbol 'KVYO’.
Klaviyo’s public offering follows other high-profile IPOs in recent weeks, including Arm Holdings PLC (NASDAQ:ARM) and Instacart (NASDAQ:CART) (Maplebear Inc).
Klaviyo helps store and analyze data for e-commerce brands that enables them to send out personalized marketing emails and messages to potential customers.
The company’s clients include over 130,000 businesses in more than 80 countries.
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