Klarna’s stock jumps 15% in NYSE debut after pricing IPO above range

## Klarna’s IPO Soars, Marking a Milestone for the Fintech Giant

Klarna, the popular “buy now, pay later” (BNPL) company, made its debut on the New York Stock Exchange, and the results were impressive. Here’s a quick rundown:

• Strong Debut: Klarna’s shares rose 15% on their first day of trading, closing at $45.82.
• IPO Details: The company priced its IPO at $40 per share, raising $1.37 billion.
• Market Sentiment: The IPO signals growing Wall Street interest in tech offerings, following successful debuts from companies like Circle and Fig.
• CEO’s Perspective: Klarna’s CEO, Sebastian Siemiatkowski, views the IPO as a significant milestone, emphasizing the company’s long-term vision.
• Business Strategy: Klarna is expanding into banking, with a debit card and deposit accounts in the U.S., attracting 700,000 card customers and a waiting list of 5 million.
• Competition: Klarna competes with Affirm and Afterpay in the BNPL market.
• Regulatory Landscape: The company faces potential regulatory scrutiny, particularly in the U.K., where BNPL loans are under review.
• Investor Returns: The IPO is generating significant returns for long-time investors, including Sequoia, which has seen substantial gains.
• Valuation: At the close of trading, Klarna was valued at approximately $17.3 billion.
• Mixed Investor Fortunes: While some investors like Sequoia are seeing huge returns, others, like SoftBank, have seen the value of their stake decline.

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