From zero to hero to zero in three years.
Klarna valuation crashes to US$6.5bn from US$46bn. it’s a “buy now, pay later” fintech.
Only a year ago, Klarna was able to double its valuation to US$46bn after a US$639mn funding round. Softbank was the lead investor. The new valuation is based on a US$600mn investment by new investors. The new valuation would be Klarna’s lowest since August 2019, when it was worth $5.5bn.
It was buy now, regret tomorrow investment.