8 months ago
87 Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a representation successful Boston connected Sep. 5, 2019.
Barry Chin | Boston Globe | Getty Images
Data and selling automation institution Klaviyo connected Friday became the latest tech institution to effort to articulation the nationalist markets.
Klaviyo said that it plans to database connected the New York Stock Exchange nether the awesome "KVYO," according to paperwork filed with the Securities and Exchange Commission.
Klaviyo follows grocery-delivery work Instacart's long-awaited IPO filing, also submitted connected Friday. The companies are trying to pry unfastened an IPO model that has been mostly unopen since precocious 2021. In December of that year, bundle vendor HashiCorp and Samsara, which develops unreality exertion for concern companies, went public, but determination person been fewer important venture-backed tech IPOs since. Chip plan elephantine Arm, which is owned by Japan's SoftBank, filed for a Nasdaq listing connected Monday.
Founded successful 2012, Klaviyo helps companies store idiosyncratic information and physique profiles connected them to nonstop targeted selling via email, substance messages and different channels. It got its commencement successful the e-commerce manufacture by chiefly serving online businesses, though Klaviyo said it's seeing increasing request from companies successful different verticals similar restaurants, travel, and events and entertainment.
In its prospectus, Klaviyo reported nett income of $15.2 cardinal for the archetypal six months of the year, compared with a nett nonaccomplishment of $24.6 cardinal during the aforesaid play a twelvemonth ago. It had gross of astir $321 cardinal for the archetypal fractional of the year, vs. astir $208 cardinal successful the archetypal six months of 2022.
One of Klaviyo's biggest backers and sources of concern is Shopify. The Canadian e-commerce elephantine owns astir 11% of Klaviyo's shares, and invested $100 cardinal successful the institution last August. As of the extremity of 2022, astir 77.5% of Klaviyo's annualized recurring revenue, oregon worth of its existing paid subscriptions, was derived from customers who besides usage Shopify, the institution said. Klaviyo besides has a concern with Shopify wherever it is the "recommended email solution" for members of its Shopify Plus program. It besides has integrations with different fashionable e-commerce platforms similar BigCommerce, Adobe's Magento, and Salesforce Commerce Cloud.
Klaviyo said it had much than 130,000 customers arsenic of June 30, compared to 105,000 customers a twelvemonth ago.
