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In what could be one of the most high-profile fintech public offerings this year, Swedish Buy Now, Pay Later (BNPL) giant Klarna has filed paperwork with the U.S. Securities and Exchange Commission (SEC) relating to an initial proposed public offering. Heres what you need to know about Klarnas IPO. Whats happened? On March 14, Klarna Group plc announced that it had filed paperwork with the SEC relating to a proposed initial public offering of its ordinary shares. The paperwork is known as a registration statement on Form F-1 and is the latest sign that Klarnas IPO is coming sooner rather than later. It includes a preliminary prospectus that offers a detailed look into the company’s financial performance and potential risk factors. What is Klarna? Klarna is a fintech company based in Sweden. Though it has its fingers in several aspects of fintech, the company is best known for its Buy Now, Pay Later (BNPL) services. BNPL allows consumers to purchase an item today but pay for it in installmentsusually four spread over a number of months. Klarna says it has approximately 93 million active users and counts 675,000 merchants as partners across 26 countries as of 2024. The company says that in that same year, it helped facilitate $105 billion of gross merchandise volume. Klarna was originally founded as Kreditor in 2005, making the company 20 years old this year. Kreditor changed its name to Klarna in 2010. Interestingly, in its F-1 filing with the SEC, Klarna revealed it had remained a profitable company for the first 14 years of its existence. But then, it decided to expand into the U.S. in 2019. In 2019, we strategically decided to expand our successful operating model into additional geographies, with a particular focus on the United States, and in the following three years expanded into 12 additional markets, the company wrote. While our expansion in the United States has contributed to an increase in our GMV, it has also led to net losses in recent periods. In 2023, our operating loss started to decline and we began generating positive Transaction margin dollars in the United States, while continuing to grow our GMV and the number of active Klarna consumers and merchants worldwide. When is Klarnas IPO date? Klarna has not set an IPO date yet. There are still several steps it needs to go through before it can hold its actual IPO. The company had previously filed IPO paperwork confidentially with the SEC in November. What is Klarnas stock ticker? That is one of the few firm details we do know about Klarnas future IPO. Klarna stock will trade under the ticker KLAR. What stock exchange will Klarna trade on? Klarna intends to trade its shares on the New York Stock Exchange (NYSE). How much will Klarna seek to raise in its IPO? Klarna Hasnt officially announced that yet. However, Bloomberg reports that the Swedish company is seeking to raise at least $1 billion USD. What is Klarnas valuation? If the company raises around $1 billion in its IPO, Bloomberg says the companys valuation could be more than $15 billion.
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E-Commerce
The Trump administration has transferred hundreds of immigrants to El Salvador even as a federal judge issued an order temporarily barring the deportations under an 18th century wartime declaration targeting Venezuelan gang members, officials said Sunday. Flights were in the air at the time of the ruling.U.S. District Judge James E. Boasberg issued an order Saturday temporarily blocking the deportations, but lawyers told him there were already two planes with immigrants in the airone headed for El Salvador, the other for Honduras. Boasberg verbally ordered the planes be turned around, but they apparently were not and he did not include the directive in his written order.White House press secretary Karoline Leavitt, in a statement Sunday, responded to speculation about whether the administration was flouting court orders: “The administration did not ‘refuse to comply’ with a court order. The order, which had no lawful basis, was issued after terrorist TdA aliens had already been removed from U.S. territory.”The acronym refers to the Tren de Aragua gang, which Trump targeted in his unusual proclamation that was released Saturday.In a court filing Sunday, the Department of Justice, which has appealed Boasberg’s decision, said it would not use the Trump proclamation he blocked for further deportations if his decision is not overturned.Trump sidestepped a question over whether his administration violated a court order while speaking to reporters aboard Air Force One on Sunday evening.“I don’t know. You have to speak to the lawyers about that,” he said, although he defended the deportations. “I can tell you this. These were bad people.”Asked about invoking presidential powers used in times of war, Trump said, “This is a time of war,” describing the influx of criminal migrants as “an invasion.”Trump’s allies were gleeful over the results.“Oopsie . . . Too late,” Salvadoran President Nayib Bukele, who agreed to house about 300 immigrants for a year at a cost of $6 million in his country’s prisons, wrote on the social media site X above an article about Boasberg’s ruling. That post was recirculated by White House communications director Steven Cheung.Secretary of State Marco Rubio, who negotiated an earlier deal with Bukele to house immigrants, posted on the site: “We sent over 250 alien enemy members of Tren de Aragua which El Salvador has agreed to hold in their very good jails at a fair price that will also save our taxpayer dollars.”Steve Vladeck, a professor at the Georgetown University Law Center, said that Boasberg’s verbal directive to turn around the planes was not technically part of his final order but that the Trump administration clearly violated the “spirit” of it.“This just incentivizes future courts to be hyper specific in their orders and not give the government any wiggle room,” Vladeck said.The immigrants were deported after Trump’s declaration of the Alien Enemies Act of 1798, which has been used only three times in U.S. history.The law, invoked during the War of 1812 and World Wars I and II, requires a president to declare the United States is at war, giving him extraordinary powers to detain or remove foreigners who otherwise would have protections under immigration or criminal laws. It was last used to justify the detention of Japanese-American civilians during World War II.Venezuela’s government in a statement Sunday rejected the use of Trump’s declaration of the law, characterizing it as evocative of “the darkest episodes in human history, from slavery to the horror of the Nazi concentration camps.”Tren de Aragua originated in an infamously lawless prison in the central state of Aragua and accompanied an exodus of millions of Venezuelans, the overwhelming majority of whom were seeking better living conditions after their nation’s economy came undone during the past decade. Trump seized on the gang during his campaign to paint misleading pictures of communities that he contended were “taken over” by what were actually a handful of lawbreakers.The Trump administration has not identified the immigrants deported, provided any evidence they are in fact members of Tren de Aragua or that they committed any crimes in the United States. It also sent two top members of the Salvadoran MS-13 gang to El Salvador who had been arrested in the United States.Video released by El Salvador’s government Sunday showed men exiting airplanes onto an airport tarmac lined by officers in riot gear. The men, who had their hands and ankles shackled, struggled to walk as officers pushed their heads down to have them bend down at the waist.The video also showed the men being transported to prison in a large convoy of buses guarded by police and military vehicles and at least one helicopter. The men were shown kneeling on the ground as their heads were shaved before they changed into the prison’s all-white uniformknee-length shorts, T-shirt, socks, and rubber clogsand placed in cells.The immigrants were taken to the notorious CECOT facility, the centerpiece of Bukele’s push to pacify his once violence-wracked country through tough police measures and limits on basic rights.The Trump administration said the president actually signed the proclamation contending Tren de Aragua was invading the United States on Friday night but didn’t announce it until Saturday afternoon. Immigration lawyers said that, late Friday, they noticed Venezuelans who otherwise couldn’t be deported under immigration law being moved to Texas for deportation flights. They began to file lawsuits to halt the transfers.“Basically any Venezuelan citizen in the US may be removed on pretext of belonging to Tren de Aragua, with no chance at defense,” Adam Isacson of the Washington Office for Latin America, a human rights group, warned on X.The litigation that led to the hold on deportations was filed on behalf of five Venezuelans held in Texas who lawyers said were concerned they’d be falsely accused of being members of the gang. Once the act is invoked, they warned, Trump could simply declare anyone a Tren de Aragua member and remove them from the country.Boasberg barred those Venezuelans’ deportations Saturday morning when the suit was filed, but only broadened it to all people in federal custody who could be targeted by the act after his afternoon hearing. He noted that the law has never before been used outside of a congressionally declared war and that plaintiffs may successfully argue Trump exceeded his legal authority in invoking it.The bar on deportations stands for up to 14 days and the immigrants will remain in federal custody during that time. Boasberg has scheduled a hearing Friday to hear additional arguments in the case.He said he had to act because the immigrants whose deportations may actually violate the U.S. Constitution deserved a chance to have their pleas heard in court.“Once they’re out of the country,” Boasberg said, “there’s little I could do.” Cano reported from Caracas, Venezuela. Nicholas Riccardi and Regina Garcia Cano, Associated Press
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E-Commerce
Consumers are urged to check their kitchens and pantries after the U.S. Food and Drug Administration (FDA) posted a notice that warned about health risks associated with select chowder soups. A recall has been issued for the select chowder soup products due to fears they have the potential to be contaminated with Clostridium botulinum. The bacterium can cause a potentially deadly form of food poisoning known as botulism. Heres what you need to know about the recall. Whats happened? The FDA has posted a notice of a voluntary recall being conducted by the SeaBear Company of Anacortes, Washington. SeaBear initiated the recall after the company became concerned that select lots of two of its chowder soup products had the potential to harbor the Clostridium botulinum bacterium. SeaBear initiated the voluntary recall after discovering that there was a pouch sealing issue on the products packaging caused by a mechanical issue with some of the companys equipment. The packaging seal could not be fully bonded, which means some of the chowder soup packages had the ability to leak. Which products are affected? According to SeaBear Company, there are two SeaBear Smokehouse chowder soup products included in this recall. Those products are: Brand: SeaBear Smokehouse Product: SeaBear Salmon Chowder Net wt.12oz. UPC: 0 34507 07001 3 Impacted lot codes: view list here Brand: SeaBear Smokehouse Product: Alehouse Clam Chowder Net wt 12oz. UPC: 0 34507 07021 1 Impacted lot codes: view list here Images of the packaging of the recalled products can be found here. Where were the recalled products sold? SeaBear Company says the recalled products were distributed through physical retail stores in the following states: Alaska California Colorado Oregon Washington The products were also sold nationwide at seabear.com. SeaBear says the impacted products were sold between 10/1/2024 and 03/14/2025. Thankfully, the companys notice states that there have been no reports of illness due to the recalled products so far. What is botulism? Botulism is a type of potentially deadly form of food poisoning. It is caused by the Clostridium botulinum bacterium. The U.S. Centers for Disease Control and Prevention (CDC) says botulism is a rare but serious illness. There are five types of the diseaseall of which are medical emergencies, according to the agency. What are the symptoms of botulism? There are five types of botulism, but the CDC says that all five types have some of the same symptoms, including: Difficulty swallowing Muscle weakness Double vision Drooping eyelids Blurry vision Slurred speech Difficulty breathing Difficulty moving the eyes Foodborne botulism symptoms may also have the following symptoms: Vomiting Nausea Stomach pain Diarrhea Botulism may occur in adults, children, and infants. In infants, symptoms of botulism may also include: Constipation Poor feeding Drooping eyelids Pupils that are slow to react to light Face showing less expression than usual Weak cry that sounds different than usual What do I do if I have the recalled products? SeaBears recall notice says that those who have the recalled chowder soup products in their possession should not consume them. Instead, owners of the products should contact SeaBears customer service team for a full refund. SeaBears customer service contact phone number is 1-800-645-3474; the email is smokehouse@seabear.com. Full details of the product recall can be found here.
Category:
E-Commerce
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