Klaviyo’s stock has recently managed to jump by 23.0% as it debuted with its IPO on the market. So the Klaviyo pricing, by which we mean net worth, was originally worth $9.5 billion, now managing to reach $11.2 billion. This is a far cry from the company’s situation 2 years ago, where it had been going through a rough patch. Klaviyo is a company specialising in automating marketing online and, therefore, integrating this with several e-commerce platforms. However, some doubt that this will be the firm that could start off a market automation sector craze.
Originally, analysts placed the price of the stock at $30, with it rising to over $36 at the opening. This upwards price movement managed to turn both of Klaviyo’s CEOs into billionaires.
The company managed to make $437 million in profits last year. This was a notable improvement from the previous year, going up 63.0%. The company also has as many as 130,000 customers now. All of this points to the company’s stellar performance. The unusual aspect of the company was that it did not attempt to raise investment funds early on. It is only now that the company is profitable that it has stepped into the stock market.
Klaviyo Founders’ Uncommon Tech Equity
This is why the two founders have managed to keep hold of such a large share of the company and profit from this recent IPO. Bialecki has a 38.1% share of the company, with his Klaviyo partner Hallen holding 13.9%. Usually, a tech founder holds less than 20.0% stake in their company.
There are a few companies with a comparable record to Klaviyo’s. These include Workday, Atlassian, and possibly a few others.
A large part of this may be the two Klaviyo founders’ backgrounds. They both grew up in families with small businesses in non-tech sectors. Such areas usually require making a reliable customer base first, not starting off by raising venture capital.