Klaviyo stock jumps in debut, AI is 'core to our strategy,' CEO says

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Shares of Klaviyo (KVYO) popped on its trading debut on the New York Stock Exchange. Klaviyo Co-Founder and CEO Andrew Bialecki tells Yahoo Finance the company is really 'just getting started' but that its IPO is 'a huge milestone.' 'We believe that every company should have smarter digital relationships with their customers,' Bialecki says, adding 'that's a super durable trend.' Bialecki also stated that the company is 'long-term oriented' and 'disciplined' in how it plans to grow. When it comes to AI, Bialecki tells Seana Smith that it has been 'core' to the company's strategy over the last several years and that the company can be viewed as an AI play. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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Fed decision, Klaviyo IPO, government shutdown: 3 ThingsFed Day is upon us with investors and markets paying close attention to Federal Reserve Chair Jerome Powell's tone in his interest rates statement later today. A majority of experts expect regulators to hold rates where they are until the next FOMC meeting in 2023. Klaviyo (KVYO) will be joining the 2023 IPO Club, alongside Arm Holdings (ARM) and Instacart (CART), pricing its initial offering at $30 per share. Lastly, Republican lawmakers are struggling to agree upon a new federal budget proposal in order to avoid a government shutdown. Yahoo Finance's Seana Smith and Brad Smith detail several of this morning's leading news headlines.
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