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Shopify Invests $100 Million in Klaviyo as Strategic Partnership Formed

Dec 15, 2024•over 1 year ago

Contract Type

partnership

BostonOtherAdvertisingMarketing

Description

Shopify has selected Klaviyo as its primary email solution for high-volume merchants and invested $100 million in Klaviyo, acquiring an 11% stake in the company prior to Klaviyo’s IPO.

Company Information

Company

Klaviyo

Location

125 Summer Street, Floor 6

Boston, Massachusetts, United States

About

Klaviyo (NYSE: KVYO) is the B2C CRM. Powered by its built-in data platform and AI, Klaviyo combines marketing automation, analytics, and customer service into one unified solution, making it easy for businesses to know their customers and grow faster. Klaviyo (CLAY-vee-oh) helps over 183,000 brands like Mattel, Glossier, Daily Harvest, and Liquid Death deliver 1:1 experiences at scale, improve efficiency, and drive revenue.

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Strategic

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Agreement Insights

Based on industry data

Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

Contract momentum indicator

Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months