Tech firm Klaviyo reveals revenue rise ahead of US IPO By Reuters

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<p>(Reuters) -Klaviyo’s revenue rose 51% for the recent quarter, the data and marketing automation company disclosed in its paperwork for a U.S. initial public offering (IPO) submitted on Friday.</p>
<p>Investor interest in IPOs has renewed as a flurry of deals hit the United States and European markets, which have seen many high-profile startups shelve their listing plans over the last year due to market volatility.</p>
<p>Other marquee names testing the IPO market include SoftBank (TYO:) Group-backed chip designer Arm and grocery delivery app Instacart.</p>
<p>Successful stock market flotations from these companies could underscore the return of investor appetite for high-growth technology firms and could buoy the IPO market, encouraging other startups to move ahead with their offerings.</p>
<p>Klaviyo did not disclose the size, timetable or other details of the offering.</p>
<p>Reuters reported earlier that Klaviyo was planning a U.S. float as soon as this year, targeting to raise at least $750 million in the listing. It raised $320 million in its last funding round in 2021, which gave it a pre-money valuation of $9.15 billion. </p>
<p>The company reported revenue of $164.6 million for the quarter ended June 30, compared with $109 million a year earlier.</p>
<p>Klaviyo’s shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “KVYO”. It has Canadian e-commerce giant Shopify (NYSE:) and affiliates of investment firm Summit Partners among its backers.</p>
<p>Founded in 2012, Klaviyo helps store and analyze data for e-commerce brands that enables them to send out personalized marketing emails and messages to potential customers. The company said it had over 130,000 customers as of June 30.</p>
<p>Goldman Sachs, Morgan Stanley and <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Citigroup </span></span> (NYSE:) are acting as lead underwriters of the offering, the company said in its filing. </p>
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