Klarna's 2024 Wrap Up

2024 has been absolutely groundbreaking for Klarna! 🤯

Here's a complete overview of their incredible transformation - from reaching profitability to their upcoming IPO.

Klarna's 2024: The Year of Comeback 🚀

After reaching a peak valuation of $46B during the pandemic, Klarna has transformed into a profitable business and is now preparing for one of the most anticipated IPOs of the year, with analysts suggesting a $14.6 billion valuation.

Key Financial Developments:

• Shrank net losses by 76% in 2023
• Posted profitable Q1 and Q3 2024 results (Q3: SEK 216 Million Profit)
• Revenue increased 4.57% year-on-year
• GMV up 16%
• AI implementation expected to yield $40 million in profit improvements
• Previous $150 million monthly burn rate successfully addressed

Product & Service Expansion:

• Launched Klarna Plus subscription in the US (100,000+ subscribers)
• Introduced credit card in the US market
• Rolled out open banking-powered settlements in the UK
• Launched "Sign in with Klarna" across 23 countries
• Enhanced personal spending insights features
• Integrated with Checkout.com network
• Expanded to Canada with Apple Pay integration

Major Partnerships:

• Uber: Payment integration for rides and food delivery in US, Germany, and Sweden
• Expedia: BNPL options for travel bookings
• PubMatic: Native advertising expansion
• UATP: Entry into $1 trillion air travel industry
• Zoom: Flexible payments in 16 markets
• Xero: Invoice payment integration

Corporate Developments:

• Confidentially filed for US IPO
• Divested Klarna Checkout (KCO) for $520 Million
• Acquired Laybuy's assets in New Zealand
• Sold Hero platform to Bambuser for €1.3 million

Geographic Expansion:

• Strengthened US presence with multiple product launches
• Entered Canadian market
• Extended services in New Zealand
• Expanded European operations
• Enhanced UK banking services

With their IPO on the horizon and continued global expansion, 2025 is set to be another exciting chapter in Klarna's journey! 🚀