TECH - Marketing Automation Provider Klaviyo Stock Shoots Higher On Trading Debut | Benzinga

Marketing and data automation provider Klaviyo Inc (NYSE: KVYO) stock is trading higher by 16% on its trading debut.

The company priced its initial public offering above expectations, raising $576 million. Klaviyo's shares opened at $36.75, beating the market expectations of $34 - $36.

The IPO saw Klaviyo and some of its current investors sell 19.2 million shares for $30 each, surpassing their earlier marketing range of $27 to $29 per share. 

This development gives the Boston-based company a fully diluted value of approximately $9 billion, Bloomberg reports.

While Klaviyo may not be as well-known as Full story available on Benzinga.com