Klaviyo, a marketing automation company, saw its shares jump 23% to $36.75 in its New York Stock Exchange debut. The company priced 19.2 million shares at $30 each, valuing the company at over $9 billion. Klaviyo raised $345 million in cash from the IPO. The listing comes after a 21-month hiatus in the tech IPO market, with Klaviyo and Instacart attempting to break the dry spell. Klaviyo helps businesses store user data and build profiles for targeted marketing. The company reported a 51% revenue growth in the latest quarter and swung to profitability.

The post Klaviyo jumps 23% in NYSE debut after Software Vendor Priced IPO at $30 appeared first on Balanced News Summary.