Marketing data company Klaviyo, Inc. (KVYO proposed) filed to go public today (Friday, Aug. 25, 2023) in an IPO with a placeholder amount of $100 million. Boston-based Klaviyo plans to list its stock on the New York Stock Exchange. Klaviyo’s IPO filing is among a handful of closely watched IPOs that Wall Street sees as part of a trend to jump-start the IPO market for the fall.
Goldman Sachs, Morgan Stanley and Citigroup are the joint lead book-runners. The book-running team includes Barclays, Mizuho, William Blair, Piper Sandler and Truist Securities.
The co-managers’ team consists of Baird, Canaccord Genuity, Needham & Co. and TD Cowen.
“Our modern and intuitive SaaS (Software as a Service) platform combines our proprietary data and application layers into one vertically integrated solution with advanced machine learning and artificial intelligence capabilities,” Klaviyo says in the prospectus. “This enables business users of any skill level to harness their data in order to send the right message at the right time across email, SMS, and push notifications, more accurately measure and predict performance, and deploy the specific actions and campaigns that drive the highest impact.”
A Shopify-affiliated investment fund is among Klaviyo’s principal stockholders.
For the 12 months that ended June 30, 2023, Klaviyo reported a net loss of $9.5 million on revenue of $585.1 million.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.