Klaviyo is targeting a fully diluted valuation of up to $9 billion in its initial public offering after it raised the proposed price range of its shares in a on Monday.
The marketing automation company estimated in the filing that its IPO price will fall between $27 and $29, up from the $25 to $27 range it previously estimated. Klaviyo last week and plans to list shares on the New York Stock Exchange under the ticker "KVYO."
comes after a yearslong stretch of very few significant venture-backed tech offerings. It follows and Arm's debut, showing an early sign that tech offerings could be making a comeback. Depending on how Klaviyo, Instacart and Arm perform, their IPOs to follow.
E-commerce company owns about 11% of Klaviyo shares, the marketing firm disclosed, with about three-quarters of its annualized recurring revenue derived from customers who use Shopify, as of the end of 2022.
— CNBC's Annie Palmer contributed to this report.
