re: Klarna IPO. Goes public on the the 10th

Reading a few financial boards and the shorts don't seem to happy with this. Like they havent made enough money off of this .

He didn’t use it as a liquidity event because they had to structure things in weird ways to avoid Sweden’s income tax laws.

We are really spiky this morning with some short covering.
You love to see it.

What Grok is telling me about that:

No, Sebastian Siemiatkowski (Klarna's co-founder and CEO) did not hold or rely on RSUs (Restricted Stock Units) in the same way as many rank-and-file employees did.The RSU issues that generated widespread coverage and frustration were primarily tied to employee compensation programs starting around 2020.

In contrast, Siemiatkowski's equity stake—his primary holding—was structured differently as a founder/co-founder:
His ownership consisted mainly of ordinary shares (held directly or through entities like Double Sunday AB and Flat Capital AB), plus some Class B shares (super-voting, non-economic) and potentially Class C options/shares (special voting class issuable only to him and affiliates, with limited economic rights).

No sources indicate any contractual restrictions, lockups specific to him, or other barriers that forced this decision during the IPO itself. (Standard post-IPO lockup periods—typically 180 days—applied to many insiders and early investors after the listing, expiring around March 2026, but that didn't restrict sales in the IPO.)

Instead, he used the IPO timing strategically:

He secured a $112 million loan from SEB AB by pledging ~$980–$1 billion worth of his stake as collateral (low loan-to-value ratio), then used those funds to buy out another investor's stake in a holding vehicle—increasing his control without selling down.

This aligns with a clear signal of strong conviction in the company's long-term prospects:

In interviews around the IPO (e.g., Bloomberg Tech, other outlets), Siemiatkowski described Klarna as having "decades of growth ahead," emphasized building a lasting consumer finance empire, and framed the listing as a milestone/validation rather than a cash-out event.

Reports frame his no-sell choice as deliberate confidence—e.g., "a signal that the 20-year journey... is just beginning" or highlighting his "billion-dollar conviction."

Grok used a lot of words to say since Sweden’s capital gains taxes are 1/2 as much as their income tax, the founder structured his equity in a manner that he wouldn’t be subjected to income taxes. …sadly the rest of his employees weren’t as fortunate.

This is why I originally got interested in Klarna.
I wasn't interested at all last fall when it IPO'd, but the 75% decline from ATH got me curious.

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When a stock price becomes the main reference point for bears, and you clearly see they don’t know what they talk about, there is an opportunity to be a contrarian and win big.

Now I am going contrarian once again, this time betting on Klarna.

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The ignorance I saw last week after it announced its earnings was massive. I saw that many people don’t even understand this business, yet they have megaphones to talk.

This convinced me that I can make serious money in this stock.

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In short, Klarna is operating in a huge market with a lot of growth opportunities, and it’s well-positioned to exploit these opportunities thanks to its full neo-banking stack.

It has a dual growth driver as it’s actively converting basic users to higher-value banking customers, aside from organic user growth.

They are very good at adopting AI in their business, which results in an operating leverage unprecedented in financial services.

Add on top of all these that it’s still being led by its founder, and it’s not too hard to see that this business will keep growing fast, at least for the next 5-10 years.

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Capitalist Letters - Klarna: Time To Be A Contrarian

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Now it just seems like a troll. Most banks offer people a Big Mac to sign up for an account. Klarna signs up people that need to BNPL their Big Mac.

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I’m here to share a money making opportunity.

You are apparently here to shite on Klarna for reasons unknown

I could of course be wrong, and this goes to $5 on its on, but you would not have helped argue that point in the least.

So, enjoy shitposting!