By Ben Dummett and Joe Wallace
Klarna, the specialty lending and online payments provider, has halted its planned initial public offering, the latest IPO casualty in the wake of Trump administration's sweeping tariff announcement.
The Sweden-based company was set to launch marketing shares for the offering Monday, but decided this week to postpone, people familiar with the matter said.
Ticketing marketplace StubHub has also delayed its IPO plans. Like Klarna, it had planned to launch a pitch to investors next week. StubHub and its advisers worried investors might not have time to meet them, so nixed the roadshow.
Klarna's core offering, known as buy-now-pay-later, is embedded in online checkout pages for retailers. The firm filed IPO documents earlier this year to list its shares on the New York Stock Exchange, and has been targeting a valuation of $15 billion. The company was last valued in 2022 at $6.7 billion.
Shares of one of Klarna's biggest competitors in the U.S., Affirm, have slumped 46% this year, including a 15% swoon so far Friday. Affirm's market valuation has slid to just over $12 billion, lower than Klarna's target in its IPO.
Klarna's backers include a range of big-name investors such as Sequoia Capital, Abu Dhabi sovereign-wealth fund Mubadala Investment and the Canada Pension Plan Investment Board.
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April 04, 2025 11:12 ET (15:12 GMT)
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