CEO Andrew Bialecki owns more than 38% of the company, an unusually high stake among software founders that elevates his net worth to $4.3 billion.
Bialecki and Hallen shirked venture funding for the first three years after founding Klaviyo in 2012. By the time they took a $1.5 million seed investment led by local VC shop Accomplice, the startup had surpassed $1 million in revenue and was profitable, perHewing to that small business DNA, Bialecki emphasized efficiency early on. But he also began taking cues from the enduring tech companies of the 1980s and 1990s, like Microsoft and Oracle.
Another key stakeholder is Shopify, whose vendors accounted for 77.5% of Klaviyo’s annual recurring revenue last year, according to the latter’s. But Klaviyo turned a dependency into a business synergy when Shopify invested $100 million in July 2022 and penned a strategic partnership that entails a revenue sharing agreement and preferential designation of Klaviyo on Shopify’s platform as its “recommended email solution provider.
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