Klaviyo went public after raising $576 million in its IPO.
The opening price gives cofounder and CEO Andrew Bialecki a stake worth roughly $3.6 billion.
Venture capital firms including Summit Partners, Accomplice, and Accel also made out handsomely.
Klaviyo went public at a market cap of $11.3 billion on Wednesday, as it becomes the latest company trying to stir the initial public offering market from a deep slumber.
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Persons:
Klaviyo, Andrew Bialecki
Organizations:
Venture, Summit Partners, Accel, MIT's Sloan School of Management