In June 2021, it reached a $45.6 billion valuation after raising $639 million, making it a mega-unicorn.
It makes sense that a lot of this growth was fueled by U.S. consumers, since most of us can't afford an emergency expense. The purchase of a pizza oven or just a single pepperoni pie can be done with BNPL.
Growth is good, but like the James Brown song, Klarna is paying the cost to be the boss, with a $658 million operating loss and a $709 million net loss.
You can save 20% off a one- or two-year subscription with the discount code.
It may be that the company's high spend in 2021 set the groundwork for a strong 2022, with the company's cost growth slowing and its revenue growth maintaining pace.
Affirm is trading around $35 per share this morning, a long way from its high of $176.55.
I asked Alex if he thought there would be consolidation, and he said there were two scenarios, one where smaller players join forces and the other where platform fintechs acquire BNPLs to enhance their service offerings.
With falling corporate valuations and lots of expensive competition, I think we will see at least a few more tie-ups and acquisitions before the year is out.
Everyone has cash, and when potential acquisition targets get cheaper, who doesn't love a deal?
Have a great week, thanks for reading, have a great week!
Walter Thompson Senior Editor, TechCrunch+
Your partner.
Klarna shows that BNPL growth is not cheap
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If you've watched the parkour performance by Boston Dynamics, you'll understand that the robotics industry is progressing in leaps and bounds.
Even so, founders should be prepared to discuss practical applications, as opposed to simply trumpeting the benefits of their technology.
In a recent episode of TechCrunch Live with Agility Robotics co-founder and CTO Jonathan Hurst and Playground Global founding partner Bruce Leak, they looked back at how Agility's early pitch deck related its impressive tech to the needs and wants of its prospective customers.
From the customer's point of view, you can see how this will solve my problem.
It is not just technically interesting. That is the transition right there.
Robotics founders: Build your pitch deck around problem-solving, not technology
Anna and Alex interviewed three executives to get a better idea of why companies are building their own investing arms.
With capital aplenty, modern corporate investors marry financial and strategic goals
The image was uploaded by Justin Sullivan.
A group of activist investors waged a proxy fight last year to oust Box's CEO.
Box reported $233 million in revenue last quarter, a year-over-year increase of 17%.
Alan Pelz-Sharp said that some of the initiatives that Box had been building over the past few years are paying off now that the proxy fight is over.
Box strikes back with a quarter that beats everyone’s expectations, including its own
Yuichiro Chino is an image.
Six publicly traded enterprise companies released their earnings last week, and all of them saw increases in revenue.
Four of the six firms saw their share price decline, with Snowflake taking the biggest hit.
Alex and Ron looked over the results to see if these companies really warrant the reaction they got, or if Wall Street is just being cautious.
How quickly do enterprise tech firms need to grow to satisfy today’s investors?
It is tempting to relax if you are a founder who has already received funding and has another to look forward to.
Having a long runway is not the best protection when the winds are blowing in the private markets. Some entrepreneurs are looking to pivot because of that.
She writes that some may re-prioritize objectives to reduce risk, while others may pursue new, more near-term business models to finally get some revenue in the door.
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