Core Insights - Klarna had a successful debut on the New York Stock Exchange, with shares rising nearly 15% on the first day of trading [1][2] - The stock opened at $52, a 30% premium over its pricing, and closed at $45.82 after reaching a high of $57 [2] - The IPO raised approximately $1.37 billion, making it the largest IPO of the year [3] Company Overview - Klarna, founded in 2005, entered the U.S. buy-now-pay-later market in 2015 and has since partnered with major retailers like Macy's and Walmart [5][6] - The company aims to provide an alternative to credit cards, which it views as high-interest and exploitative [8] - Klarna's most popular product is the "pay-in-4" plan, allowing customers to split purchases into four payments over six weeks, appealing to consumers hesitant to use credit cards [9] Market Position - Klarna's decision to go public in the U.S. reflects its focus on growth opportunities within the American consumer market, which is the largest in the world [6][7] - The company has embedded itself in various digital platforms, expanding its reach to hundreds of thousands of merchants [5] - Klarna has attracted 111 million consumers globally, indicating strong market penetration [9]
Klarna shares rise 15% in their first day of trading on Wall Street