On Wednesday, Klaviyo Inc., a firm that provides software-as-a-service (SaaS) for digital marketing, made a successful entrance onto Wall Street. The company's stock opened at a 22.5% premium to its initial public offering (IPO) price, demonstrating strong investor interest.
The IPO was priced higher than initially expected at $30 per share, leading to the sale of 19.2 million shares. This resulted in Klaviyo raising an impressive total of $345.2 million on its market debut. Out of the total shares sold, the company itself sold 11.51 million shares, while the remaining 7.69 million shares were sold by existing shareholders.
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