As private companies become more valuable and soar to over $1 billion in valuation, the unicorn IPO logjam is preventing many of these startups from going public. In this uncertain market, a startup called Klaviyo hopes to break the IPO logjam and be one of the first unicorns to successfully complete a public offering.
Founded in 2012, Klaviyo is a Boston-based e-commerce analytics and marketing software platform that provides personalized customer experiences for businesses. With the help of their software, businesses are able to better track, target, and measure customer engagement which helps them in marketing and revenue growth. Its platform is particularly popular with e-commerce businesses, who require customer data to effectively maximize their digital operations.
Klaviyo recently released its S-1 filing, which is the first step in going public. This is an important milestone due to the recent shortage of publicly traded tech companies on the market. This is seen as the green light that the market is becoming increasingly more viable for tech companies to go public.
Klaviyo’s S-1 filing reveals that the software platform is growing rapidly as the number of monthly active users has skyrocketed from 87,000 in 2018 to 543,000 in 2020. In addition, the company’s revenue has also grown exponentially over the last two years, reaching $112 million in 2020. These impressive numbers prove that Klaviyo has a lot of potential and could succeed at becoming a publicly-traded tech company.
Klaviyo is not the only unicorn trying to break the IPO logjam, but they have strong potential to be the first successful tech company to complete a public offering. If successful, this could set a precedent for future unicorns that would open the door for them to go public and help grow the ecosystem of publicly traded tech companies. This would be great news for investors and tech companies alike, as this could provide a much needed influx of investment and capital into the market.
For the sake of the tech sector and investors, let’s hope Klaviyo becomes the vanguard for unicorns to go public and break the IPO logjam.
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