Klaviyo Skyrockets 20% in NYSE Debut, Bolstering IPO Market's Revival

Klaviyo's shares opened more than 20% higher in its New York Stock Exchange debut on Wednesday, pointing to a strong resurgence in the IPO market. The marketing automation platform is the latest company to see its shares jump significantly on its first trading day after going public. At the IPO price, Klaviyo's market value was around $9.2 billion based on 307.9 million outstanding shares. Shares opened higher than the IPO price but came down later, closing at $32.76.