Finance
Klarna Files for IPO, Promises Investors ‘New Era of Finance’ | PYMNTS.com
Klarna said Friday (March 14) that it publicly filed a registration form on Form F-1 with the Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its ordinary shares.
“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the company said in a Friday press release. “Klarna has applied to list its ordinary shares on the New York Stock Exchange under the symbol ‘KLAR.’”
In a letter included in the Form F-1, Klarna CEO and Co-founder Sebastian Siemiatkowski wrote that the company’s offerings, including its buy now, pay later (BNPL) feature, have drawn close to 100 million people.
“It is an amazingly diverse group of people with really one thing in common: their resentment of traditional banks,” Siemiatkowski wrote. “They want simple and transparent fees. They want to avoid mishap fees. They want fixed and clear payoff horizons for major purchases. Ultimately, they want a bank that delivers trust by putting their interests first — and yes, preferably interest-free.”
Klarna said in the Form F-1 that as of Dec. 31, it had 93 million active consumers and 675,000 merchants. It also had gross merchandise value (GMV) of $105 billion, revenue of $2.8 billion and net profit of $21 million as of that time, the firm said.
Addressing potential investors in his letter, Siemiatkowski wrote: “For those who join us, you’re not just investing in a company — you’re investing in a new era of finance.”
It was reported March 6 that Klarna was perhaps days away from filing for its IPO and that unnamed sources said the company hopes to raise at least $1 billion, with plans to price the IPO early in April. The same sources said the company is targeting a value of more than $15 billion when it lists on the New York Stock Exchange.
Klarna said in November that it “confidentially submitted” a draft registration statement for an IPO to the SEC.
A month earlier, Chrysalis Investments increased the value of its stake in Klarna, giving the company an implied valuation of roughly $14.6 billion.
Today’s installment of campaign-related news items from across the country.
* When it comes to campaign finance laws, both parties’ campaign committees have faced restrictions on how much money they could spend in coordination with candidates’ campaigns. Those limits are now effectively gone.
As MS NOW’s Jordan Rubin explained, “The Supreme Court’s GOP-appointed majority ruled for Republicans in their campaign finance challenge to restrictions on political parties spending on ads with input from the party’s candidate.”
A Punchbowl News report added that the ruling, written by Justice Brett Kavanaugh, “handed Republicans a massive win” and is likely to “usher in the biggest change to campaign finance law since the Citizens United decision.”
The same report went on to note that Tuesday’s high court ruling “allows for unrestricted coordination between candidates and party committees. That means committees, like the NRSC or the DCCC, can run unlimited TV ads with allied candidates. More importantly, they can also buy those ads at the much cheaper rate offered to candidates. … Tuesday’s SCOTUS ruling will also eradicate the need for independent expenditure arms at party committees.”
Republicans already enjoyed a significant financial advantage over Democrats. The Republican-appointed justices just made it easier for the GOP to capitalize on that advantage.
* In Colorado’s closely watched Democratic primaries, incumbent Sen. John Hickenlooper fended off a challenge from the left, but some of his colleagues weren’t as fortune: Democratic socialist Melat Kiros ended long-serving Rep. Diana DeGette’s career in Denver’s congressional district, while state Attorney General Phil Weiser scored a major upset by defeating incumbent Sen. Michael Bennet in a gubernatorial primary.
* In the race for North Carolina’s open Senate seat, former Democratic Gov. Roy Cooper leads former Republican National Committee Chairman Michael Whatley in the latest New York Times/Siena poll, 50% to 43%, pointing to a possible pickup opportunity for Democrats.
Google Cloud and FactSet, a provider of data and artificial intelligence solutions to the financial markets, plan to jointly develop AI agents designed to assist with portfolio operations, deal advisory and corporate finance.
Tuesday’s Supreme Court ruling changing certain federal campaign finance limits could make a big difference in the battle for control of Congress this fall, giving Republican candidates who have been getting outraised by opponents direct access to more party cash.
Limited time: Save 25% on NBC News subscription
Get exclusive reporting, live Q&As and ad-free reading.
-
Virginia3 minutes agoVirginia’s Clean Slate Law takes effect, sealing records of certain convictions, offenses
-
Washington10 minutes agoWhere can you watch fireworks in Washington DC on the Fourth of July?
-
Wisconsin13 minutes ago9-year-old drowns at western Wisconsin water park, sheriff says
-
West Virginia18 minutes agoSave Women’s Sports Act now the law of the land – WV MetroNews
-
Wyoming25 minutes agoYoung bull moose captured wandering Laramie, relocated by Game and Fish
-
Crypto28 minutes agoWebinar: Crypto and public pensions—risks, rewards, and fiduciary duties
-
Finance33 minutes agoWednesday’s Campaign Round-Up, 7.1.26: Justices help GOP with campaign finance ruling
-
Fitness40 minutes agoI’ve been doing the bird dog exercise instead of planks to improve my core strength – it’s even better for beginners
