Once one of the world’s most valuable startups, Klarna was discussing valuations as high as $60b as recently as February. That was before the war in Ukraine and rising rates helped to spark a market-wide collapse.
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Klarna’s valuation slashed by $39b amid market backdrop
Chief Executive Officer Sebastian Siemiatkowski said in a series of Tweets that while Klarna isn’t immune to the stock downturn, and that now is the time to focus on a return to profitability, he finds the lower valuation “odd considering all the things achieved, how much larger and better and stronger we are now.”
