Klarna files for long-awaited IPO

The news: Klarna confidentially filed IPO documents with the SEC, per a press release.

• The Sweden-based buy now, pay later (BNPL) provider is rumored to be valued at about $15 billion, down from its peak of $46 million in 2021.
• Klarna expects to start trading in the first half of 2025.

How we got here: Klarna has been prepping to go public for years.