The IPO breakdown? Klaviyo’s putting up 11.5 million shares, with the rest (7.7 million) courtesy of current shareholders, including the influential Summit Partners.
Intriguingly, Klaviyo’s market debut features a dual-class structure. The Class A shares, accessible to the public, come with a one-vote-per-share right. Meanwhile, a distinct Class B batch, granting a hefty 10 votes per share, is earmarked for a select shareholder group. CEO Andrew Bialecki, holding a staggering 98.9 million of these shares, wields about 39% of the voting prowess.
Let’s not forget the connection with e-commerce behemoth Shopify Inc. and venture capitalists at Accomplice, both backing Klaviyo’s ascent.
