Swedish payments giant Klarna has officially filed for an initial public offering (IPO) in the United States, putting an end to months of speculation regarding its stock market ambitions. The company submitted a draft registration statement to the Securities and Exchange Commission (SEC), although specific details regarding the number of shares and pricing remain undisclosed. Analysts recently estimated Klarna's implied valuation at approximately $14.6 billion, a significant increase from the $6.7 billion valuation from its last fundraising round in 2022, but still a far cry from the staggering $45.6 billion valuation achieved in 2021. This decline in valuation reflects broader challenges in the tech sector, exacerbated by the war in Ukraine and rising interest rates. Despite internal boardroom conflicts, Klarna is poised for its public debut, pending SEC review and market conditions. The company faces ongoing scrutiny regarding the sustainability of its business model in the competitive "Buy Now, Pay Later" space.
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