Klaviyo's Successful IPO and Co-Founders' Insights

Klaviyo, a marketing automation company, saw its shares rise 9.2% in its NYSE debut after pricing its IPO at $30 per share. The stock closed at $32.76, valuing the company at just over $9 billion. Klaviyo helps companies store user data and build profiles for targeted marketing, primarily serving online businesses but also expanding into other verticals. The company reported revenue growth of 51% in the latest quarter and swung to profitability. Klaviyo's biggest backer is Shopify, which owns roughly 11% of its shares and invested $100 million in the company last year.