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Pedestrians walk through a Klarna ad.
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Klarna, a Buy Now supplier, pays the subsequent loans presented by her OPI brochure On Friday, and plans to make public the New York Stock Exchange under the Ticker Klar symbol.
Klarna, based in Sweden, has not yet revealed the number of actions that will be offered or the expected price range.
The decision to be made public in the US. Uu. It gives a significant blow to European stock exchanges, which have fought to retain local technology companies. Klarna’s CEO, Sebastian Siemiatkowski, had hinted for years that a list of the United States was more likely, citing better visibility and regulatory advantages.
Klarna continues to rebuild after a dramatic recession. Once a dear of the Pandemia era valued at $ 46 billion in a round of financing led by SoftBank, Klarna saw its reduced valuation by 85% in 2022, chopped at $ 6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the range of $ 15 billion, reinforced by their return to profitability in 2023.
Income last year increased 24% to $ 2.8 billion. The company’s operational loss was $ 121 million for the year, and the adjusted operational gain was $ 181 million, balanced for a loss of $ 49 million the previous year.
Klarna is the last advantage to request an OPI of the United States, since technology companies seek to reach the public market after a historically slow section for new offers. Earl this month, Coreweave, a cloud -based cloud supplier Nvidia processors for companies that include Goal and Microsoft, filed Your prospect.
Cloud software supplier Servicetito Give to the market In DecemberMarking the first technological IPO for an important company focusing from Rubrik’s Debut in April. A month before that, Reddit He began to trade in the NYSE. There have not been many other notable technological opi in the US since the end of 2021, when the increase in interest rates and the very high inflation expelled investors from risk assets.
Market volatility could still stand in Klarna’s plans. The Nasdaq has just completed its fourth consecutive week of losses, closing Thursday at its lowest level since September before recovering a little on Friday.
The data published on Friday of the University of Michigan confirmed that consumer confidence has suffered the current uncertainty related to the rate That is based on the first weeks of the second Trump administration. The feeling of the consumer decreased In March to 57.9, less than the 63.2 economists surveyed by Dow Jones waited.
Founded in 2005, Klarna is better known for its purchase now, pay the posterior model, a service that allows consumers to divide purchases into quotas. The company competes with Saythat was made public in 2021, and after paying, that Block acquired for $ 29 billion at the beginning of 2022. Klarna’s main shareholders include risk and atomic risk companies, as well as SoftBank’s Vision fund.
Klarna also names the main banks as JPMorgan Chase, Citigroup and Bank of America as competitors, as well as traditional credit card networks, including Visa and MasterCardand “Banks centered on digital” such as Revolution and Cloud.
Klarna has operated as a bank with a complete license in Europe since 2017, according to the presentation. Siemiatkowski told CNBC in December that the company aims to obtain a license in the US, where it is currently associated with Webbank.
“We want to accelerate our money transmission licenses,” Siemiatkowski said, and added that the company is willing to invest $ 1 billion in that effort. Klarna wants to “go after these horrendous credit card rates that US consumers are used to paying,” he said.
Block on Thursday he said it insured approval From the Federal Deposit Insurance Corporation to originating loans through its bank subsidiary, Square Financial Services, which allows you to offer small dollar consumption loans directly instead of depending on external banking partners. It’s a expansion Cash APP Loan, the company’s short -term loan product.
Block, affirm and PayPal They are each reinforce your wallets of financial products, including debit offers, loans and payments, while trying to capture more consumer attention and expense. Klarna will have to compete in the price, with attractive rates and incentives, to keep up with the competition.
