Klarna, the Swedish payments giant known for its buy now, pay later (BNPL) services, has officially filed to go public in the United States, marking a significant milestone in its journey. This move comes after a period of speculation and reflects Klarna's impressive growth, having doubled its valuation to $14.6 billion since 2022, despite a notable decline from its peak of $45.6 billion in 2021. The company reported a profit of $66 million in the first half of this year, a turnaround from a $45 million loss the previous year, driven by growth in the U.S. market and cost reductions through AI integration. The BNPL sector has gained immense popularity, accounting for $75 billion in online spending last year, with a notable increase in consumers using these services for everyday essentials. As Klarna prepares to join its publicly traded competitors like PayPal and Affirm, it highlights the evolving landscape of consumer finance.
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