The seemingly low-stakes world of text and email customer messaging revealed some big fortunes Wednesday, as marketing technology firm Klaviyo Inc. began trading in New York.
Andrew Bialecki founded the Boston-based company in 2012 and it grew rapidly, attracting investors including Summit Partners, Lone Pine Capital and Shopify. Klaviyo’s $30-a-share offering price valued it at more than $9 billion based on its fully diluted share count.
The stock rose 9.2% Wednesday to close at $32.76 in its trading debut.
Read the full story on Bloomberg here.