Core Viewpoint - Klarna, the Swedish fintech giant, plans to restart its IPO in the US with a target valuation of around $13 billion, significantly lower than its previous valuation of several tens of billions [1][10] Company Overview - Klarna was founded in 2005 in Stockholm, Sweden, by Sebastian Siemiatkowski, Victor Jacobsson, and Niklas Adalberth, initially focusing on providing guaranteed payment services for online transactions [2] - The company has evolved into a comprehensive fintech platform offering payment solutions, consumer credit, and shopping services, with its core competitive advantage being the "Buy Now, Pay Later" (BNPL) payment scheme [2] Financial Performance - Klarna's revenue has shown steady growth over the past three years, with revenues of $1.904 billion, $2.276 billion, and $2.811 billion for 2022, 2023, and 2024 respectively [4] - The company has also improved its profitability, with operating losses decreasing from $980 million in 2022 to $121 million in 2024, and net losses narrowing from $1.035 billion to a profit of $21 million in the same period [4] Cost Management and AI Integration - The introduction of an AI assistant powered by OpenAI is expected to help Klarna achieve profitability by 2024, saving approximately $39 million in costs [5] - Marketing costs have also decreased significantly, from $531 million in 2022 to $328 million in 2024, while expanding its business scale and customer base [5] Valuation Fluctuations - Klarna's valuation has experienced significant volatility, peaking at $45.6 billion in June 2021 after raising $639 million from SoftBank's Vision Fund [8] - The company faced challenges due to aggressive market strategies, rising costs, and increased competition from major players like PayPal and Apple, leading to a drastic valuation drop to $6.7 billion in 2022 [9] Upcoming IPO Details - Klarna's IPO is set to determine its share price this week, with a price range of $34 to $36 per share, resulting in a valuation between $12.6 billion and $13.3 billion [10]