Marketing automation platform Klaviyo roped in Goldman Sachs as the lead underwriter for its upcoming public listing, tentatively scheduled for around September.
Klaviyo's launch this year is not guaranteed, as many other firms have started their IPO processes only to abandon them later.
- Klaviyo was last valued at $9.5B when it raised $320M in May 2021.
- To
date, the firm has raised over $775M from investors, the last of which
came through a $100M investment from Shopify in August 2022.
- Sources informed the WSJ that it posted over $575M in annual recurring revenue (ARR) last year.
- Last month, the firm laid off 140 employees to reduce costs.
- Klaviyo
could be the first significant IPO listing of the year, paving the way
for grocery delivery startup Instacart, peer-to-peer car rental service
Turo, big-data company Databricks, and chip manufacturer Arm, all of
which are patiently waiting for the IPO window to open up.
