IPO Hype Proves Short Lived
The U.S. initial public offering (IPO) market welcomed its third unicorn in the past week, with marketing automation company Klaviyo debuting on the NYSE today.
It offered 19.2 million shares, with 11.5 million sold by the company to raise $345 million in cash. The pricing gave it a $9 billion valuation, down slightly from its $9.5 billion private round in 2021. 💸