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Klarna's US IPO Filing
Klarna, a Swedish BNPL firm, files for a US IPO, marking a significant event for the European tech scene.
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- What is Klarna's current plan?
- Klarna, a buy now, pay later (BNPL) company, is going public for a second time, filing paperwork with the SEC for an initial public offering (IPO). This will be one of the largest European company IPOs next year, potentially surpassing all but Revolut.
- Why is Klarna choosing a US listing?
- Klarna's IPO will be significant, marking the largest Swedish company to list on a U.S. exchange since Spotify in 2018. The company is targeting a U.S. listing due to its focus on U.S. expansion and a more lenient environment towards profitability for tech companies.
- How has Klarna's valuation changed recently?
- Klarna's valuation has fluctuated dramatically. After reaching $46.5 billion in 2021, it dropped significantly, and the current IPO valuation is undetermined. This contrasts with earlier reports suggesting around a $20 billion valuation.
- What is Klarna's recent financial performance?
- Klarna reported a first-half adjusted profit of 673 million Swedish crowns ($61.74 million), a significant improvement from a loss the previous year, driven by cost-cutting measures and AI implementation. Revenue also rose 27% year over year.
- What factors influenced Klarna's decision to go public in the US?
- Klarna's decision to pursue a U.S. IPO is partly driven by its expansion efforts in the American market. The company also anticipates benefitting from less stringent profitability requirements for tech companies in the U.S. market.