• by Ray Schultz , April 4, 2023

Klaviyo, a firm that a platform that uses data to drive email, SMS and other ecommerce messaging,  has engaged Goldman Sachs Group Inc. to prepare it for an IPO later in 2023, The Wall Street Journal reports. 

The company was valued at $9.5 billion in a funding round in 2021, the Journal reports. 

Klaviyo has now achieved almost $600 million in annual recurring revenue, the Journal adds.

Last month, Klaviyo reportedly cut its headcount by 10%, or roughly 140 people. 

This layoff could be “ part of an effort to streamline costs ahead of the possible IPO to make the company more palatable to jittery investors,” TechCrunch writes. 

Last November, Klaviyo, has made its first acquisition -- Napkin.io, a firm that enables developers to write and deploy code directly on a browser. This occurred just a few months after Shopify made a reported strategic investment of $100 million in Klaviyo. 

Klaviyo pulled in $320 million in a 2021 funding round.