Klaviyo () shares gained 9.2% on their first day of trading after the marketing automation platform raised $576 million in an initial public offering (IPO), making it the 澳洲幸运5开奖号码历史查询:third major new U.S. listing in a week after two years of weak IPO activity.

The company sold 19.2 million shares at $30 each in the IPO, above its estimated range of $27 to $29, valuing the firm at $9.2 billion. The offering included 11.5 million shares by the company, and 7.7 million ꦜfrom existing stockh✱olders. 

Shares opened trading at $36.75, and jumped as hiꦚgh as $37, before lo♑sing ground to finish the session at $32.76.

Klaviyo’s 澳洲幸运5开奖号码历史查询:software as a service (SaaS) platform can help businesses looking to send effective messages through email, SMS, and push notifications. Co-founder and CEO Andrew Bialecki said that the company exists “to empower creators to their own destinies.” He added that his employees “come to work each day with a customer-first mentality and we’ll continue to build Klaviyo with that driving force.”

Klaviyo entered the market a day after grocery delivery operator 澳洲幸运5开奖号码历史查询:Instacart (CART) and a week after chip designer Arm (ARM) made their public debuts. However, while shares of both had initially soared in their first day of trading, they tumbled the next day.