This morning, Boston-based email marketing software maker Klaviyo raised its IPO price range to $27 to $29 per share, a few dollars more than its prior $25 to $27 per share estimate. This indicates the company gauged interest in its IPO to be high enough that it feels confident it can raise a few more dollars while also getting out at a better price.

Klaviyo is not alone in taking such an approach. As we saw last week, Instacart also slightly raised its own IPO price range, which likely means the grocery delivery company’s bankers and management are feeling confident that investor demand for new IPO shares is reasonably high.

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If Instacart’s IPO prices at the midpoint of its new price range, the company will be worth around $9.6 billion. That’s a material amount more than the $8.9 billion it was worth at the middle of its initial estimate.

Klaviyo’s is the more interesting repricing, however. At the middle of the new price range, its price tag will swell to $8.6 billion, per TechCrunch calculations, up from $8 billion at the midpoint of its previous estimate.

Why is Klaviyo’s repricing more important than Instacart’s? Because the latter’s investors are going to take a massive haircut on the last capital that went into the business regardless of some pre-IPO price movements.

Klaviyo, on the other hand, is a different story. The company was last valued at $9.5 billion, a figure it is now much closer to than it was just a few days ago.

Last week, before the company detailed its new price range, we had thoughts on just this scenario:

Source @TechCrunch