| Marketing and data automation provider Klaviyo rose as much as 32 per cent in its trading debut after exceeding the marketed range in its initial public offering to raise $US576 million .
Klaviyo’s shares opened trading on Wednesday at $US36.75 after selling for $US30 each in the IPO. The company and selling stockholders had marketed 19.2 million shares for $US27 to $US29. The company’s investors include growth equity firm Summit Partners, e-commerce platform Shopify and venture firms Accomplice and Accel. Summit is selling 4.9 million shares in the IPO, while Accomplice is selling almost 1.8 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: