Behind the Pixels is a conversational blog series that aims to give a glimpse into the work & life of being a designer at Klaviyo
by Admin
Posted on 13-01-2024 09:20 PM
In a deal that could help signal a revival in the innovation economy, boston software maker klaviyo became the first local tech company to go public in two years this week. Klaviyo’s initial public offering tuesday night raised about $345 million to fuel its growth. In its first day of trading on the new york
stock exchange wednesday, klaviyo’s stock closed at $32.
76, giving it a valuation of about $10 billion. Tech companies have been all but shut out of the stock market since the federal reserve started raising interest rates early last year, and venture capital backing also plummeted.
Marketing automation firm klaviyo has raised its initial public offering (ipo) price range to between $27 and $29 per share, up from the initial $25 to $27 per share. The move targets a valuation of nearly $9 billion as the company prepares to hit the market on wednesday, september 20, 2023. This follows a period of significant tech ipos including semiconductor designer arm and grocery delivery app instacart. Instacart, owned by maplebear inc, successfully priced its ipo at the top of its indicated range on tuesday, achieving a fully diluted valuation of $9.
9 billion. The shares started trading on nasdaq today, raising $660 million with the company pricing it at $30 per share following strong investor demand.
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