Sequoia Capital is poised to make roughly $2.65 billion from Klarna’s IPO, more than six times its $500 million investment since 2010. The VC firm owns 21% of Klarna’s voting shares, worth $3.15 billion at the IPO price of $40, and will sell a small portion of its stake in the offering. Klarna, once valued at $46 billion before its valuation plunged to $6.7 billion in 2022, is now listing at over $15 billion amid a rebound in fintech stocks. The IPO also follows internal Sequoia drama over board control, with veteran Michael Moritz retaining influence through his ties to Klarna’s CEO.
