Klaviyo Inc., a Boston-based software-as-a-service company, has filed for an initial public offering (IPO) with plans to list on the New York Stock Exchange under the ticker ‘KVYO.’ The IPO is being led by Goldman Sachs, Morgan Stanley, and Citigroup, along with a team of 12 banks.
Fund Utilization and Financial Performance
The proceeds from the IPO will be allocated towards working capital and general corporate purposes, including funding growth. Klaviyo Inc., which was established in 2012, reported an income of $15.2 million in the first half of 2023, marking a significant improvement from a loss of $24.6 million in the same period last year. Furthermore, the company's revenue climbed to $320.7 million compared to $208.3 million previously.
Empowering Businesses with Personalized Consumer Experiences
"Klaviyo enables businesses to drive revenue growth by making it easy to bring their first-party data together and use it to create and deliver highly personalized consumer experiences across digital channels," states the company in its filing documents.
The Renaissance IPO ETF has demonstrated robust performance this year, with a 25% gain to date. On the other hand, the S&P 500 has achieved a 14% increase.