So we’ve been saying for some time that the again half of 2024 could possibly be good for SaaS IPOs, we simply wanted just a few of the break-out winners to IPO to get the engine rolling once more.
And now we’ve got that first submitting — Klaviyo.
The Subsequent Nice SaaS IPO is formally coming:@klaviyo
▶️57% Development (increase!)
▶️ 119% NRR
▶️ Worthwhile final 6 mos, virtually final 12 months (Environment friendly!) pic.twitter.com/Sg9rMkIEoh
— Jason ✨Be Variety✨ Lemkin (@jasonlk) August 25, 2023
It’s possible you’ll not have heard of Klaviyo if you’re outdoors of e-commerce, however within the e-comm world, it’s the #1 B2B participant. It dominates the Shopify advertising and marketing ecosystem and others as nicely.
And it’s received the complete package deal:
- True Scale: Nearly $600m ARR
- Epic Development: Nonetheless rising 57% at $600m ARR — wow!
- Prime Tier NRR: 119%
- Worthwhile: Klaviyo has gotten leaner, and has been worthwhile the previous 6+ months.
There’s nothing to knock right here, people. And … it was primarily extremely capital-efficient as nicely. Borderline bootstrapped (extra to come back right here on SaaStr).
That is the break-out IPO the markets must get the engine going once more. Not ARM, or Cava. No, we want an excellent SaaS IPO, with sturdy unit economics, excessive NRR, and that’s environment friendly.
Klaviyo has all of it. Wow.
And a deep dive with CEO Andrew Bialacki right here: