Klaviyo prepares for US market debut after pricing IPO above range

📆 9/20/2023 7:24 AM
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(Reuters) - Marketing automation company Klaviyo was set to list its shares on the New York Stock Exchange on Wednesday, in a third big test for the ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Marketing automation company Klaviyo was set to list its shares on the New York Stock Exchange on Wednesday, in a third big test for the market for new issues following smooth debuts of Arm Holdings and Instacart.

The offering gave Klaviyo a valuation of $9.2 billion. BlackRock and AllianceBernstein have agreed to buy up to $100 million worth of shares each, accounting for a big chunk of the total IPO proceeds.

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Instacart, Klaviyo to go public, but IPO market remains challenged: ExpertInstacart (CART) is set to go public, pricing their shares between $28-$30. Marketing automation platform Klaviyo is set to go public as well, pricing their shares for $27-$29. Yahoo Finance’s Akiko Fujita and Josh Lipton are joined by Athena Chairwoman and Founder Isabelle Freidheim to discuss IPOs and SPACs and what would drive a company’s choice between the two.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »