Gen Z sees a lot of value in using Klarna, compared to credit cards, says Sequoia's Andrew Reed

Investment & Shareholding - Sequoia is selling 21 million shares in the IPO and will retain a stake of more than 20% after the debut, making it the largest shareholder [1] - Sequoia first invested in the company 15 or 16 years ago [2] Company Overview & Vision - The company, initially an alternative payments company based in Sweden, has grown significantly [3] - The company's vision is to save consumers time and money, and help them have more control over their finances [4] - The company has over 100 million consumers and over 100 billion in GMBB across 26 countries [3] Growth Strategy - The two main vectors of growth are a card in every wallet and availability at every checkout [5] - The company aims to partner with big merchants like Walmart, eBay, and Airbnb, as well as major global PSPs [6] Market & Competition - The company aims to break through the credit card wall [6][7] - Gen Z sees a lot of value in using the company's services as opposed to traditional credit cards [9] - Despite its brand recognition, the company's share in fintech in the US is still small [10]