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Klaviyo stock soared on its debut Wednesday, within days of Instacart and Arm's initial public offerings. The software company, founded in 2012, priced 19.2 million shares on Tuesday at $30 each, giving Klaviyo about a $9 billion valuation, fully diluted. Klaviyo helps companies build user profiles for targeted marketing. In 2020 and 2021, scores of companies initiated IPOs, but many now trade below their IPO price. Still, she said the likes of Arm, Instacart, and Klaviyo offer a "good litmus test" for what's to come in 2024.
Persons: Klaviyo, Wharton, David Erickson, Erickson, IPOs, Rachel Gerring, Gerring Organizations: Service, New York Stock Exchange, Venture, Wall Locations: Instacart, Wall, Silicon, Americas
Triller is in a holding pattern on its path to becoming a public company. A spokesperson said that once its registration statement is declared effective, it will make the filing public for the required time ahead of its public listing. The long slog toward becoming a public company as lawsuits pile upTriller has been pursuing a public offering for over a year. In December 2021, Triller announced it instead planned to go public via a reverse merger with the video-tech company Seachange International. "After much deliberation, Triller has determined that the best course of action is a direct listing for Triller."
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