Core Insights - Klarna successfully completed its IPO on the New York Stock Exchange, raising $1.4 billion, primarily benefiting existing investors rather than the company itself [1] - The company sold shares at $40, exceeding the initial price range of $35 to $37, resulting in a valuation of $15 billion at the IPO [1] - Shares opened at $52 but stabilized around $46 during the day [1] Share Distribution - Out of the 34.3 million shares sold, only 5 million were issued by Klarna, with the majority sold by existing investors, including Sequoia Capital and other notable entities [2] - Sequoia Capital is the largest shareholder, controlling nearly 23% of Klarna [5] - Co-founder CEO Sebastian Siemiatkowski retained his shares, valued at $1.02 billion at the IPO price, while co-founder Victor Jacobsson sold 1.1 million shares but still holds over 8% of the company [4] Market Dynamics - Existing investors often contribute shares to meet IPO demand, which can lead to a more accurate and potentially higher valuation [3] - Klarna's IPO is significant as it represents a milestone for the company, showcasing its journey from a startup to a publicly traded entity [6] - The $1.4 billion raised is not the largest IPO of 2025, as that record is held by CoreWeave with $1.5 billion raised in June [6]
Klarna's IPO pops, raising $1.4B, with Sequoia as the biggest winner