[ad_1]
Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019.
Barry Chin | Boston Globe | Getty Photographs
Knowledge and advertising automation firm Klaviyo on Friday grew to become the newest tech firm to attempt to be part of the general public markets.
Klaviyo stated that it plans to checklist on the New York Inventory Alternate underneath the image “KVYO,” in line with paperwork filed with the Securities and Alternate Fee.
Klaviyo follows grocery-delivery service Instacart’s long-awaited IPO submitting, additionally submitted on Friday. The businesses are attempting 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 firms, went public, however there have been few important 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 firms retailer person information and construct profiles on them to ship focused advertising by way of e mail, textual content messages and different channels. It bought its begin within the e-commerce trade by primarily serving on-line companies, although Klaviyo stated it is seeing rising demand from firms in different verticals like eating places, journey, and occasions and leisure.
In its prospectus, Klaviyo reported web revenue 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.
One in every 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 tip of 2022, about 77.5% of Klaviyo’s annualized recurring income, or worth of its present 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 “beneficial e mail resolution” for members of its Shopify Plus program. It additionally has integrations with different well-liked 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.
[ad_2]
Source link
