Klaviyo's IPO gives CEO Andrew Bialecki a stake worth $3.6 billion. Here are the others getting rich. [Business Insider]
Walmart Inc. (WMT)
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Source: Business Insider
Venture capital firms including Summit Partners, Accomplice, and Accel also made out handsomely. Klaviyo went public at a market cap of $11.3 billion on Wednesday, as it becomes the latest company trying to stir the initial public offering market from a deep slumber. Humble beginnings doesn't begin to describe Klaviyo. The company, which helps merchants sell more through text and email marketing, got started in empty conference rooms at MIT's Sloan School of Management, where one of its cofounders was studying for his master's degree. The two founders chugged along for three years before raising any venture capital, and even then, the startup took in only as much money it needed and without dramatically diluting the founders, Insider has reported . Over 11 years, investors doled out $454 million in funding to Klaviyo, and SEC filings show it has spent just $15 million of that capital, while reaching profitability and a staff of 1,500 employees. Now Klaviyo's founders, employe
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