Pedestrians walk by an advertisement for Klarna.
Daniel Harvey Gonzalez | In images via getty images
Klarna, a purchase supplier now, subsequent loans IPO Prospectus Friday, and plans to make public to the New York Stock Exchange under the symbol of Ticker Klar.
Klarna, whose headquarters are in Sweden, has not yet revealed the number of actions to offer or the expected price range.
The decision to make public in the United States is a hard blow for European scholarships, which have struggled to keep local technological companies. Klarna CEO Sebastian, Siemiatkowski, had hinted for years that an American list was more likely, citing better visibility and regulatory advantages.
Klarna continues to rebuild after a spectacular slowdown. Once a darling in the pandemic era worth $ 46 billion in a financing cycle led by tablespoons, Klarna saw its recovery reduced by 85% in 2022, falling to 6.7 billion dollars during its last primary fundraising. However, analysts now estimate the company’s assessment in the $ 15 billion range, reinforced by its return to profitability in 2023.
Last year, income increased by 24% to $ 2.8 billion. The operating loss of the company was $ 121 million for the year, and the adjusted operating profit was $ 181 million, from a loss of $ 49 million a year earlier.
Klarna is the last managed to file an introduction to the American stock market while technological companies seek to arrive on the public market following a historically slow stretch for new offers. Earlier this month, Coreweave, a cloud supplier Nvidia processors to businesses, especially Meta And Microsoft,, laid His prospectus.
Cloud software seller Servitan arrive on the market in Decembermarking the first technology stock exchange to support the important company since Brush Beginnings in April. A month before that, Reddit started to discuss the nyse. There have not been many other technological stock exchange to the United States since the end of 2021, when the increase in interest rates and the rise in inflation pushed investors from risky assets.
Market volatility could still hinder Klarna’s plans. The Nasdaq has just completed its fourth consecutive week of defeats, ending Thursday at its lowest level since September before bounced a little on Friday.
Data published on Friday from the University of Michigan confirmed that consumer confidence had suffered Uncertainty -related uncertainty This supported the first weeks of the second Trump administration. Consumer feeling has dropped In March at 57.9, lower than the 63.2 economists interviewed by Dow Jones expected.
Founded in 2005, Klarna is best known for its purchase model now, Pay Ult Wead, a service that allows consumers to divide purchases into payments. The company competes with Affirmwho became public in 2021, and afterwards, which Block Acquired for $ 29 billion at the start of 2022. Softbank’s Vision fund.
Klarna also names large banks as JPMorgan Chase,, Citigroup And America Bank as competitors as well as traditional credit card networks, including Visa And MasterCardAnd “digital focused banks” like Revolut and Nubank.
Klarna has operated as a fully approved bank in Europe since 2017, according to the file. Siemiatkowski told CNBC in December that the company was aimed at obtaining a license in the United States, where it is currently joining forces with Webbank.
“We want to accelerate our money transmission licenses,” said Siemiatkowski, adding that the company was willing to invest $ 1 billion in this effort. Klarna wants to “go after these horrible credit card costs that American consumers are used to paying,” he said.
Block Thursday said it guaranteed approval From the Federal Deposit Insurance Corporation to create loans through its banking subsidiary, Square Financial Services, allowing it to directly offer consumption loans at low dollar rather than relying on external banking partners. It’s a expansion From cash app borrow, the company’s short -term loan product.
Block, affirm and Paypal are each Strengthen their portfolios Financial products, including debit, loans and payment offers, as they try to capture more attention and consumer expenditure. Klarna will have to compete on the price, with attractive rates and incentives, to follow competition.
