Klaviyo Is Said to Plan to Sell IPO Shares for $29 or More

Marketing and data automation provider Klaviyo Inc. is planning to sell shares in its initial public offering at the top of or above the marketed range, according to people familiar with the matter.

The Boston-based company is deciding whether to price the shares at either $29 or $30 each, said the people, who asked not to be identified because the information wasn’t public yet. Klaviyo and its existing stockholders have been marketing 19.2 million shares for $27 to $29 each.

Investors have placed orders for about 25 times the amount of stock on offer, the people said. The exact price ...