Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019.
Barry Chin | Boston Globe | Getty Pictures
Information and advertising automation firm Klaviyo on Friday turned the most recent tech firm to attempt to be a part of the general public markets.
Klaviyo stated that it plans to checklist on the New York Inventory Change underneath the image “KVYO,” in accordance with paperwork filed with the Securities and Change Fee.
Klaviyo follows grocery-delivery service Instacart’s long-awaited IPO submitting, additionally submitted on Friday. The businesses try to pry open an IPO window that has been largely shut since late 2021. In December of that yr, software program vendor HashiCorp and Samsara, which develops cloud expertise for industrial corporations, went public, however there have been few vital venture-backed tech IPOs since. Chip design large Arm, which is owned by Japan’s SoftBank, filed for a Nasdaq itemizing on Monday.
Based in 2012, Klaviyo helps corporations retailer consumer information and construct profiles on them to ship focused advertising through e mail, textual content messages and different channels. It obtained its begin within the e-commerce trade by primarily serving on-line companies, although Klaviyo stated it is seeing rising demand from corporations in different verticals like eating places, journey, and occasions and leisure.
In its prospectus, Klaviyo reported web earnings of $15.2 million for the primary six months of the yr, in contrast with a web lack of $24.6 million throughout the identical interval a yr in the past. It had income of roughly $321 million for the primary half of the yr, vs. about $208 million within the first six months of 2022.
Certainly one of Klaviyo’s greatest backers and sources of enterprise is Shopify. The Canadian e-commerce large owns roughly 11% of Klaviyo’s shares, and invested $100 million within the firm final August. As of the top of 2022, about 77.5% of Klaviyo’s annualized recurring income, or worth of its current paid subscriptions, was derived from clients who additionally use Shopify, the corporate stated. Klaviyo additionally has a partnership with Shopify the place it’s the “advisable e mail answer” for members of its Shopify Plus program. It additionally has integrations with different widespread e-commerce platforms like BigCommerce, Adobe’s Magento, and Salesforce Commerce Cloud.
Klaviyo stated it had greater than 130,000 clients as of June 30, in comparison with 105,000 clients a yr in the past.
