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Swedish Fintech Klarna Confidentially Files for U.S. IPO at $14.6 Billion Valuation
Nov 13, 2024, 12:30 PM
Swedish fintech company Klarna has confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) in the United States. The buy-now, pay-later giant aims to list its shares on the U.S. stock market, marking a significant step in its global expansion strategy. Analysts estimate Klarna's implied valuation at around $14.6 billion as of October 2024, an improvement from its $6.7 billion valuation in 2022 but still below its peak of $45.6 billion in 2021. In the first half of 2024, Klarna reported approximately $1.5 billion in revenue, up 27%, with $62 million in profit after reducing its workforce from 7,000 to 3,800 employees. The confidential SEC filing was announced today, and the IPO is highly anticipated in the finance industry. Klarna's timing will depend on market conditions and regulatory approvals.
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