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BOSTON - Klaviyo, Inc. (NYSE: KVYO), a customer relationship management (CRM) provider for consumer brands with a market capitalization of $9.9 billion, today announced its CEO and co-founder Andrew Bialecki has commenced a public offering of Series A common stock valued at $372 million. The sale is reportedly to cover tax obligations connected to the expiration of his stock options later this year. According to InvestingPro data, the stock has shown strong momentum with a 13.54% return over the past week.
The offering, which is dependent on market conditions and other factors, may not have a guaranteed completion date or final terms. Klaviyo itself will not benefit financially from the sale, as all proceeds will go to Mr. Bialecki.
Goldman Sachs & Co. LLC and Morgan Stanley are serving as joint lead bookrunning managers for the transaction. The shares of Series A Common Stock are being offered via a prospectus supplement and accompanying prospectus, filed with the Securities and Exchange Commission (SEC) on February 19, 2025, and effective upon filing.
Klaviyo’s platform is designed specifically for B2C brands, integrating marketing automation, analytics, and customer service with AI insights. The company supports brands such as Mattel and Glossier, among over 169,000 others, in delivering personalized customer experiences.
The company has cautioned that this press release contains forward-looking statements regarding the offering, which involve risks and uncertainties that could cause actual results to differ materially. These statements are based on current expectations and assumptions and are subject to factors such as market risks and the satisfaction of customary closing conditions for an offering of securities.
This news is based on a press release statement from Klaviyo, Inc. and does not serve as an offer to sell or a solicitation of an offer to buy any securities.
In other recent news, Klaviyo Inc reported first-quarter earnings that exceeded expectations, showcasing robust revenue and earnings performance. Analysts from Scotiabank noted a 5% revenue increase beyond expectations and raised the price target for Klaviyo shares to $35.00, reflecting confidence in the company’s growth strategy. Benchmark analysts also adjusted Klaviyo’s price target to $44.00, emphasizing the company’s stabilization in customer segments and consistent revenue retention. Meanwhile, Stifel reduced its price target to $45 from $54, citing a clean earnings report and increased guidance for the year despite macroeconomic uncertainties. Truist Securities maintained a $40.00 price target, highlighting Klaviyo’s resilience and strategic growth initiatives. Canaccord Genuity also adjusted its price target to $45.00, reaffirming a Buy rating and acknowledging Klaviyo’s rapid growth and strong customer experience. Across these updates, analysts consistently expressed optimism about Klaviyo’s strategic positioning and potential for sustained growth in the face of economic challenges.
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