SUMMARY
- Klaviyo recalibrates share price to an estimated $27-$29.
- Tech IPO scene sees renewed vigor with Klaviyo, Instacart, and Arm announcements.
- Shopify’s cozy connection: They own 11% of Klaviyo shares.
Klaviyo, a top-tier marketing automation firm, is setting its sights high – aiming for a whopping valuation of up to $9 billion in its upcoming initial public offering (IPO). After a little recalculating, they've nudged the estimated price tag of their shares from the initial $25-$27 to an even more ambitious $27-$29, as revealed in their recent Monday filing.
But here’s the cherry on top: they've made it official that they'll soon be debuting on the New York Stock Exchange under the suave ticker “KVYO.” So, it's time to keep those binoculars out!
Here's a fun tidbit: the tech world hasn’t been bustling with many big-ticket IPOs of late. However, with Klaviyo taking the leap closely following Instacart's and Arm’s announcements, there's a fresh breeze of optimism. If these giants make a splash, it might just pave the way for other tech bigwigs to dive into the IPO pool.
Dipping into some juicy inside info: E-commerce juggernaut Shopify owns a decent slice of the Klaviyo pie, holding around 11% of its shares. It's a mutual love story, really. A substantial 75% of Klaviyo’s annualized recurring revenue is lovingly contributed by those using Shopify. That's a partnership worth talking about as we headed out of 2022!
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