Canada's Shopify discloses increased stake in automation firm Klaviyo

Klaviyo

11/12/2023 22:43

Dec 11 (Reuters) - Canadian e-commerce giant Shopify
 SHOP.TO  disclosed a 44.36% stake in marketing and automation
firm Klaviyo  KVYO.N , according to a regulatory filing on
Monday.  
    Shopify, which sells tools to create and manage online
store-fronts, had invested in wholesale platform Faire in
September. It also has a partnership with Dutch payments firm
Adyen  ADYEN.AS .
    Klaviyo had in August, as part of its paperwork for an
initial public offering, disclosed that Shopify had a 11.2%
stake in the company.  
    Earlier in the year, Shopify had announced its plans to lay
off 20% of its staff. 
    
    
    
    

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Krishna Chandra Eluri)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))