IPO Report: Klaviyo’s stock jumps almost 23% above IPO price. Here’s why it could set the tone for other tech debuts.

Investors cheered Klaviyo Inc.’s Wall Street debut on Wednesday, with the digital-marketing software-as-a-service company’s stock opening 22.5% above its initial public offering price following warm receptions for two other high-profile IPOs in the past week.

Shares of Klaviyo KVYO pulled back slightly, however, to end Wednesday trading 9.2% higher at $32.25. The stock was down around 1% in the extended session.

The…