: Boston-based SaaS company Klaviyo files for IPO


Klaviyo Inc. a Boston-based software-as-a-service company, filed for an initial public offering on Friday, with plans to list on the New York Stock Exchange under the ticker ‘KVYO.’ Goldman Sachs, Morgan Stanley and Citigroup are lead underwriters of a team of 12 banks working on the deal. Proceeds will be used for working capital and general corporate purposes, including funding growth. The company, which was founded in 2012, posted income of $15.2 million in the first half of 2023, after a loss of $24.6 million in the year-earlier period. Revenue grew to $320.7 million from $208.3 million. “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,” the company says in its filing documents. The Renaissance IPO ETF IPO, +0.84% has gained 25% in the year to date, while the S&P 500 SPX, +0.67% has gained 14%.

This article was originally published by Marketwatch.com. Read the original article here.

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