Markets

Klaviyo impresses on IPO debut in the US

The IPO is the third major US listing in the past week

Klaviyo had net income of about $15 million on revenue of $321 million for the first six months of the year, compared with a loss of $25 million on revenue of $208 million for the same period last year

Marketing and data automation provider Klaviyo rose 9.2 per cent in its trading debut on Wednesday after topping its goal to raise $576 million in an initial public offering that could set the pace for listings by other start-ups.

The IPO is the third major US listing in the past week, following grocery delivery company Instacart and Arm, the semiconductor designer owned by SoftBank Group, whose $5.23 billion IPO is the year’s biggest.

Opening day ...