Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019.
Barry Chin | Boston Globe | Getty Pictures
Information and advertising and marketing automation firm Klaviyo on Friday grew to become the most recent tech firm to attempt to be part of the general public markets.
Klaviyo stated that it plans to listing on the New York Inventory Trade beneath the image “KVYO,” in keeping with paperwork filed with the Securities and Trade 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 principally shut since late 2021. In December of that 12 months, software program vendor HashiCorp and Samsara, which develops cloud know-how for industrial firms, went public, however there have been few vital 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 consumer information and construct profiles on them to ship focused advertising and marketing through electronic mail, textual content messages and different channels. It bought its begin within the e-commerce business 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 earnings of $15.2 million for the primary six months of the 12 months, in contrast with a web lack of $24.6 million throughout the identical interval a 12 months in the past. It had income of roughly $321 million for the primary half of the 12 months, vs. about $208 million within the first six months of 2022.
One among 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 top of 2022, about 77.5% of Klaviyo’s annualized recurring income, or worth of its current paid subscriptions, was derived from prospects who additionally use Shopify, the corporate stated. Klaviyo additionally has a partnership with Shopify the place it’s the “beneficial electronic mail resolution” for members of its Shopify Plus program. It additionally has integrations with different widespread e-commerce platforms like BigCommerce, Adobe’s Magento, and Salesforce Commerce Cloud.
Klaviyo stated it had greater than 130,000 prospects as of June 30, in comparison with 105,000 prospects a 12 months in the past.