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Boston marketing-tech firm Klaviyo files for IPO, discloses profitability

Andrew Bialecki, CEO and co-founder of Klaviyo, photographed in 2019.Barry Chin/Globe Staff

Marketing and data automation provider Klaviyo filed for an initial public offering, another sign that US equity markets are rebounding after an 18-month slump.

In its filing Friday with the US Securities and Exchange Commission, the Boston-based company disclosed a profit for the first half of the year. It will set proposed terms for its share sale in a later filing.

Klaviyo had net income of about $15 million on revenue of $321 million for the first six months of the year, compared with a loss of $25 million on revenue of $208 million for the same period last year, according to the filing. The company makes software that analyzes shopping data for retailers and e-commerce businesses.


Klaviyo was founded in 2012 and has grown to become one of the area’s largest privately held tech companies. The company has raised a total of $454.8 million in primary capital and had 1,548 employees as of June 30, according to the filing. (Klaviyo laid off 140 workers in March.)

The company’s top stakeholders are cofounder and CEO Andrew Bialecki (who owns 38.1 percent of shares), Summit Partners (22. 9 percent), Shopify (11.2 percent), cofounder and chief product officer Ed Hallen (13.9 percent), and venture firm Accomplice (5.7 percent), according to the filing.

The offering is being led by Goldman Sachs Group, Morgan Stanley, and Citigroup. The company plans for its shares to trade on the New York Stock Exchange under the symbol KVYO.

Material from previous Globe stories was used in this report.