Count Shopify as one of the beneficiaries of the thawing market for initial public offerings. The e-commerce software giant is set for a windfall from a successful debut of Klaviyo, the marketing and data automation startup that priced its IPO at a fully diluted valuation of $9.2 billion late Tuesday.
Shopify stands to gain a quick $295 million from a deal it struck with Klaviyo just last year, based on Klaviyo’s offering price of $30, an analysis of filings shows. In exchange, Shopify has pitched its customers on using Klaviyo’s software. And if Klaviyo’s share price rises more than 200%, Shopify will see an even bigger stock reward.
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