Klaviyo Inc. KVYO has set terms for its initial public offering, as the marketing-automation software company could be valued at up to $6.80 billion. The Boston-based company said it is offering 19.2 million shares in the IPO, with 11.5 million shares being offered by the company and 7.7 million shares offered by selling shareholders. The IPO is expected to price between $25 and $27 a share, which means the company could raise up to $310.7 million. The stock is expected to list on the New York Stock Exchange under the ticker symbol “KVYO.” Goldman Sachs, Morgan Stanley and Citigroup are the lead underwriters. For the six months ended June 30, the company reported net income of $15.2 million on revenue of $321.7 million, after a net loss of $24.6 million on revenue of $208.3 million in the same period a year ago. The company is looking to go public at a time when the Renaissance IPO ETF IPO has gained 6.5% over the past three months and the S&P 500 SPX has tacked on 3.7%.
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