CORRECTED-Shopify discloses 44.36% ownership of Klaviyo's Series A shares (Dec. 11)

-0.34%

-0.51%

-1.03%

-1.07%

-1.69%

Shopify, Inc. Class A SHOP	164.19	-0.34%
Dow Jones Industrial Average DJI	48458.05	-0.51%
Klaviyo, Inc. KVYO	29.84	-1.03%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%

Corrects headline and first paragraph of Dec. 11 story to clarify Shopify disclosed 44.36% of Series A shares, not increased its stake in Klaviyo

Dec 11 (Reuters) - Canadian e-commerce giant Shopify SHOP.TO disclosed beneficial ownership of 44.36% of the outstanding Series A shares in marketing and automation firm Klaviyo KVYO.N, according to a regulatory filing on Monday.

Shopify, which sells tools to create and manage online store-fronts, had invested in wholesale platform Faire in September. It also has a partnership with Dutch payments firm Adyen ADYEN.AS.

Klaviyo had in August, as part of its paperwork for an initial public offering, disclosed that Shopify had a 11.2% stake in the company.

Earlier in the year, Shopify had announced its plans to lay off 20% of its staff.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Krishna Chandra Eluri)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))

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