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Klarnas time has finally come. After postponing its plans to go public earlier this year, Swedish fintech company Klarna will IPO on Wednesday. The companyknown for its buy now, pay later servicesalong with some of its existing shareholders will offer more than 34 million shares, priced at $40 a piece. That could give it an overall value of around $15 billion. Thats a fall from the lofty $46 billion valuation it fetched four years ago at the height of the pandemic-fueled buy now, pay later rush. But despite the haircut, the company is on less frothy ground, and many investors are waiting with bated breath for the stock to start trading a full 20 years after it was founded. That includes Mattias Ljungman, cofounder and Managing Partner at Moonfire, who was one of the earlier investors in Klarna. In 2012, Ljungman was a cofounder and partner at Atomico, which has grown into one of Europes largest venture funds, and led the companys investment in Klarna during its Series E funding roundwhich pushed its valuation over $1 billion and into unicorn territory for the first time. Ljungman tells Fast Company that now, nearly a decade and a half since he led that investment at Atomico, he remembers that the companys founders were what initially attracted him to Klarna. Founding attraction The main thing was the founders. They had some really exciting people with the capability to drive transformative change in the market. Sebastian [Siemiatkowski, Klarnas cofounder and CEO] had it in spadeshes relentless, tenacious, passionate, and he was fixated on his vision, Ljungman says. Thats what was really remarkable, the ability to have that kind of focus. He adds that the company’s other cofounders, Niklas Adalberth and Victor Jacobsson, shared those traits as well, adding that they were and remain great people and great operators. What was cool was the opportunity that they sawmost people, when they think about payments, they think Visa or Mastercard. These are huge businesses, and they built out the rails for payment processing, he says. What Klarna did was build out a separate set of rails for commerce. Whats next for Klarna Ljungman sees Klarnawhich has become fairly ubiquitous as a payment option in many parts of the worldas a viable third player against the likes of Visa and Mastercard. For merchants, too, using Klarna has some advantages over those two. Specifically, he says, it gives them more insight into the behavior and purchase history of customers, allowing for targeted marketing efforts, and it can also help facilitate more sales by offering consumers a choice other than cash or using a card. Its become a sort of conversion engine for merchants, he says. Its almost like an ROI machine. He also notes that the IPOs timing comes as the markets, and world at large, have largely come to terms with the wild new changes and economic policies being implemented in the United States. The Trump administrations Liberation Day tariffs were a big reason the initial IPO date was pushed back, but now that the dust has settled, and other companieslike Circle and Figmahave also gone public, Klarnas leadership likely feels like this is the time to push ahead. In some ways, its a celebration of tech companies and the global belief in those companies. If anything, it proves the strength of the tech ecosystem, he says. As for Klarnas next big challenge? Its probably going to be breaking through in the U.S., where the company has just recently started to ramp up its efforts. That will take time and considerable resources, Ljungman warns, but having seen what the company has been able to do in other markets, he wouldnt bet against success. Ive seen that in market after market, they become really successful, he says. Every time, theyve nailed it.
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E-Commerce
SUVs are undoubtedly practical, but they can often be a bore. What if you also want sporty performance from your family-hauler? Surprisingly, your best bet might just be an electric SUV. Thanks in part to the inherent advantages of EV powertrain design, hair-raising acceleration is no longer exclusive to low-slung exotics. Plus, many automakers are now making well-rounded performance SUVs that also provide improved handling, stronger braking and sportier aesthetics. Edmunds’ auto experts have rounded up four of their favorites. The vehicles are listed in ascending order of price, which includes destination fees. This photo provided by Ford shows the 2025 Mustang Mach-E GT. This electric SUV backs up its Mustang name with 480 horsepower, a sport-tuned suspension, and more. [Photo: courtesy Ford Motor Co. via AP] 2025 Ford Mustang Mach-E GT The Ford Mustang Mach-E GT model packs more than enough performance to do its iconic name justice. The standard GT dishes out 480 horsepower and 600 lb-ft of torque, while an optional Performance upgrade elevates the latter figure to a hearty 700 lb-ft. In Edmunds’ testing, it helped the Mach-E GT sprint from zero to 60 mph in just 3.7 seconds.To ensure that the rest of the vehicle can keep up with the powertrain, Ford has also outfitted the Mach-E GT with a sport-tuned adaptive suspension, high-performance brakes, and sport seats up front, all of which are standard. Its hunkered-down stance also makes the Mach-E GT both look and handle more like a long hatchback rather than a towering SUV. The Mach-E GT’s EPA-estimated 280 miles of range should also be enough for most folks’ needs.2025 Ford Mustang Mach-E GT starting price: $56,490 This photo provided by Chevrolet shows the 2025 Blazer EV SS. Chevy says the SS version of the Blazer EV can rocket from 0 to 60 mph in just 3.4 seconds. [Photo: courtesy General Motors via AP] 2025 Chevy Blazer EV SS Chevrolet introduced its Blazer EV last year. It’s a sensible pick for an electric SUV. But you’ll be a lot more excited to drive the new high-performance 2025 Blazer EV SS. The Blazer SS flips the script with a huge increase in horsepower, uprated front brakes, and a thoroughly revamped suspension that adds stability and precision to spirited drives.With up to 615 horsepower available in Wide Open Watts (or WOW) launch control mode, the Blazer EV SS claims the title of the most powerful SS-badged vehicle ever produced by Chevrolet. It isn’t as track-focused as some other performance-tuned electric SUVs, but the SS does win some points back for its comfortable ride and seriously zippy 3.4-second 0-60 mph time. It also offers an impressive EPA-estimated 303 miles of range on a full charge.2025 Chevy Blazer EV SS starting price: $62,095 This photo provided by Kia shows the 2024 EV6 GT. The GT version of Kia’s electric crossover SUV gets a boost in power for 2025, bringing it to a max of 641 horsepower. [Photo: courtesy Kia America via AP] 2025 Kia EV6 GT Kia’s high-performance version of its all-electric EV6 is called the GT. The 2025 model is particularly compelling because of several updates. It starts with an increase in power, which is now a maximum output of 641 horsepower. That brings its power level up to par with the Hyundai Ioniq 5 N the EV6 GT’s corporate cousin and yields an estimated 3.3-second sprint to 60 mph. The 2025 EV6 GT also offers a mode that emulates the sound and shifting experience of a gas-powered engine. A taunt adaptive suspension and bigger brakes add to the EV6 GT’s performance-oriented vibe.Although it shares much of its mechanical hardware with the Ioniq 5 N, the EV6 GT’s futuristic styling provides more visual drama without significantly compromising occupant comfort. The Kia-estimated 231 miles of range gives it a slight edge over the Hyundai, and the EV6 GT delivers similarly swift fast-charging times.2025 Kia EV6 GT starting price: $65,295 This photo provided by Hyundai shows the 2025 Ioniq 5 N. The N version of the Ioniq 5 makes up to 641 horsepower and comes with grippy tires and powerful brakes. [Photo: courtesy Hyundai Motor America via AP] 2025 Hyundai Ioniq 5 N Hyundai’s hot-rodded crossover SUV retains all of the creature comforts and retro-inspired design of the standard Ioniq 5 while adding a big dose of excitement to the proceedings. With up to 641 horsepower on tap, the Ioniq 5 N needed just 3.3 seconds to get from 0 to 60 mph in Edmunds’ testing. Sticky performance tires, a track-tuned adaptive suspension, and massive brakes also make the Ioniq 5 N feel more like a muscle-bound hot hatch when put through its paces on a twisty back road, and racy bodywork ensures that it looks the part while doing so.But what really makes this performance electric SUV stand out from the pack is its ability to convincingly replicate the sounds and sensations of a traditional internal combustion performance vehicle, right down to the pops and crackles emanating from the virtual exhaust system and the shove that comes with a simulated gear change at full throttle. Its EPA-estimated 221 miles of range is a bit low for a contemporary EV in this price range, but Hyundai says it takes just 18 minutes to replenish the battery from 10% to 80%.2025 Hyundai Ioniq 5 N starting price: $67,800 Edmunds says High-performance trims tend to include all of the available bells and whistles by default, which raises the bottom line. If you’re looking for a more affordable alternative to a particular model, it’s worth doing some research to determine whether your must-have features performance-related or otherwise can be added as options in less costly trims. This story was provided to The Associated Press by the automotive website Edmunds. Bradley Iger is a contributor at Edmunds. Bradley Iger, Edmunds
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E-Commerce
Magnum CEO Peter ter Kulve dismissed any talk of selling Ben & Jerry’s on Wednesday and said he was focused on reclaiming market share and growing sales as the spin-off of the new Magnum Ice Cream Company from Unilever approaches. Unilever expects the ice cream business, which includes brands such as Magnum, Ben & Jerry’s, Wall’s and Cornetto, to command just over a fifth of the around $88 billion global ice cream market and compete with rivals such as Nestle-backed Froneri. Magnum is already operating separately to Unilever and after years of declining ice cream market share and stagnant profits, ter Kulve said the shift has been a game changer, allowing the company to invest in supply chains, sales and distribution. “Last year, we had a massive (market) share step up,” ter Kulve said. Ben & Jerry’s seized the spotlight at an investor day ahead of the mid-November listing on Tuesday, renewing a call for its own spin-off after years of clashes over the U.S. brand’s vocal position on Gaza. Asked about an approach to Unilever led by Ben & Jerry’s co-founders Ben Cohen and Jerry Greenfield to buy the brand last year, Magnum CEO ter Kulve said: “I have not been privy to any discussion between Unilever and Ben & Jerry.” “Ben & Jerry’s is not for sale,” ter Kulve said. Unilever’s CEO Fernando Fernandez is trying to shake up the consumer goods conglomerate by streamlining management and boosting margins. It will retain less than 20% of the ice cream business after it has been listed. Magnum’s CFO Abhijit Bhattacharya said the split was a win-win for both entities with Unilever’s portfolio becoming more focused and Magnum, concerned only with ice cream, having the opportunity to improve margins. Bhattacharya said the terms of the demerger, under which every Unilever shareholder will get a relative stake in Magnum, shields the company from market volatility that an initial public offering might usually face. “Basically we know our future shareholders, at least on day one,” Bhattacharya said. “So the demerger actually de-risks us from the market vagaries of an IPO.” Alexander Marrow and Lisa Jucca, Reuters
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E-Commerce
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