Klarna, the Swedish buy now, pay later startup, has confidentially filed a draft registration statement with the SEC to become a public company.
The announcement arrives amid a dearth of IPOs in tech, and Klarna's European status adds fervor to its news.
Klarna's valuation plummeted by 85% from $45 billion to $6.5 billion but has since risen to $14.6 billion, signaling recovery.
While details of the IPO, including shares and price, are not yet available, it likely aims for a public debut in early 2025.
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