Klaviyo prices IPO above range to raise $576 million: Reuters

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Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019.

Barry Chin | Boston Globe | Getty Images

Marketing automation company Klaviyo Inc priced its initial public offering (IPO) on Tuesday above its indicated price range to raise $576 million, according to people familiar with the matter.

Klaviyo priced 19.2 million shares at $30 apiece, the sources told Reuters. The company revised its indicated IPO price range from $25-27 per share to $27-$29 per share on Monday.

At $30 per share, Klaviyo is worth about $9.2 billion on a fully diluted basis, according to Reuters.

Klaviyo declined to comment.

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