Klarna Group Plc's journey towards its anticipated initial public offering (IPO) in the U.S. has been nothing short of dramatic, resembling a soap opera filled with boardroom conflicts, strategic shifts, and a plunge into artificial intelligence. The company, once valued at $45.6 billion in 2021, is now aiming for a valuation of $20 billion at its IPO, expected in 2025. CEO Sebastian Siemiatkowski is actively seeking new investors while navigating internal governance challenges, including the recent ousting of board member Mikael Walther, who opposed key decisions. Klarna has also made significant changes to its business model, selling its Checkout business for $520 million and embracing AI to enhance productivity, resulting in a workforce reduction of nearly 25%. Despite the turbulence, Klarna's revenue has surged, and it continues to expand its global footprint. The company’s story has even caught the attention of a Swedish production company, which has acquired film rights to depict its rise and challenges.
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