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

(This Dec. 11 story has been corrected to clarify that Shopify disclosed 44.36% of Series A shares, not increased its stake in Klaviyo, in the headline and paragraph 1)

(Reuters) - Canadian e-commerce giant Shopify disclosed beneficial ownership of 44.36% of the outstanding Series A shares in marketing and automation firm Klaviyo, 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.

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)