Klaviyo drops after launching secondary offering by CEO

Klaviyo

13/05/2025 21:52

**  Shares of marketing automation firm Klaviyo Inc KVYO.N down 5.6% at $35.40 post-market after secondary offering launch

** Boston, Massachusetts-based software firm commences $372 mln stock offering by co-founder and CEO Andrew Bialecki

** Offering to cover tax obligations related to exercise of Bialecki's stock options, which expire this year, co says

** Goldman Sachs and Morgan Stanley acting as jt lead bookrunners

** Klaviyo has 276 mln shares outstanding for ~$10.4 bln market cap

** KVYO shares on Tues closed up 4.5% at $37.50, trimming YTD loss to 9%. Stock hit record intraday high of $49.55 in Feb

** 18 of 23 analysts rate stock "strong buy" or "buy", rest have "hold"; median PT is $43.88, per LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))