Klaviyo, E-commerce Marketing Firm, Files for IPO

Data and marketing automation company Klaviyo has filed paperwork with the Securities and Exchange Commission to go public on the New York Stock Exchange under the symbol "KVYO." Klaviyo, which helps companies store user data and send targeted marketing, reported net income of $15.2 million for the first half of the year and revenue of approximately $321 million. The company's biggest backer is Shopify, which owns roughly 11% of Klaviyo's shares. Klaviyo aims to join the IPO market alongside other tech companies like Instacart and Arm, as the IPO window begins to open after a slowdown in 2021.