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Nov 26 - Klarna sees losses quadruple amid surging demand for buy now, pay later



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 2 months ago '04        #1
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jlandryst  topics gone triple plat - Number 1 spot x60
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Nov 26 - Klarna sees losses quadruple amid surging demand for buy now, pay later
 

 
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Swedish fintech start-up Klarna saw its losses balloon in the first nine months of 2021, as costs increased sharply amid rising demand for buy now, pay later services.

The Stockholm-based firm posted a pre-tax loss of 3.1 billion Swedish krona ($344 million) from January to September, a fourfold increase from the 800 million krona it lost in the same period a year ago.

Klarna, which was last privately valued at $46 billion, reported net operating income of 9.8 billion krona, up 40% from last year.

The vast bulk of the losses came from general administrative expenses, which amounted to 9.5 billion krona, up from 5.9 billion krona last year.

Credit losses also rose considerably, totaling 2.9 billion krona year-to-date, higher than the 1.6 billion krona reported for the same period last year.

A Klarna spokesperson told CNBC the firm has entered nine new markets since the start of 2020 and now has over 90 million customers worldwide.

ďEach market entry follows a consistent financial trajectory; as volumes grow, and more customers use Klarna, market knowledge improves and credit risk decreases, making mature markets sustainably profitable,Ē the spokesperson said in an emailed statement.

Klarna is one of the biggest players in the rapidly growing buy now, pay later, or BNPL, market. BNPL products let shoppers split the cost of their purchases into a series of equal monthly installments, often interest-free.

Klarna and rivals like Afterpay and Affirm make most of their revenue from the fees they charge merchants for processing transactions. Some also make money from late payment fees and interest charged on longer-term installment loans.

BNPL products have seen surging demand over the last year, thanks in no small part to an acceleration of e-commerce adoption triggered by the coronavirus pandemic.

Millions of shoppers now use a buy now, pay later service to finance their purchases. And the options are more varied than ever.

Meanwhile, big companies are jumping on the bandwagon, with PayPal launching its own product, Amazon and Apple partnering up with Affirm, and Square agreeing to buy Afterpay in a $29 billion deal.

Klarna has been aggressively expanding into the U.S. and Britain recently. The company controlled a roughly 18% share of the U.S. BNPL market as of Nov. 17, according to figures provided to CNBC by research firm YipitData, trailing behind Affirm, which had 36% market share, and Afterpay, with 21%.

In the U.K., Klarna has been on a charm offensive, meeting with top political figures ahead of new rules that would bring the BNPL sector under regulatory oversight.



visit this link https://www.cnbc.com/2021 .. pay-later.html


Since itís the biggest shopping week of the year. How many people use these services? How many of you have defaulted on the payments?
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106 comments
 

 2 months ago '11        #2
Sin  topics gone triple plat - Number 1 spot x46
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If you can’t buy it twice you can’t afford it
+93   

 2 months ago '09        #3
messy marv stan  topics gone triple plat - Number 1 spot x76
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how can a company that supposedly "loses" $344 million allegedly be valued at $46 billion


regular people should be able to use the same financial buffoonery these multi billion dollar regimes use
+58   

 2 months ago '18        #4
ChrisPartlowFro 
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 Sin said
If you canít buy it twice you canít afford it
Which is why BNPL is going to be a huge space going forward. Our country has no real financial literacy. The amount of Audis I see on the roadÖ
+48   

 2 months ago '16        #5
Blunted Sultan  topics gone triple plat - Number 1 spot x6
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I like this feature, mainly cause now I can do something else with the money
+32   

 2 months ago '16        #6
Blunted Sultan  topics gone triple plat - Number 1 spot x6
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 ChrisPartlowFro said
Which is why BNPL is going to be a huge space going forward. Our country has no real financial literacy. The amount of Audis I see on the roadÖ

gotta adapt to the financial instability somehow. no comment on Audi gang lol.
+19   

 2 months ago '06        #7
bigkilla  topics gone triple plat - Number 1 spot x2
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 messy marv stan said
how can a company that supposedly "loses" $344 million allegedly be valued at $46 billion


regular people should be able to use the same financial buffoonery these multi billion dollar regimes use
If you think thatís crazy read about Uberís lossesÖ they were losing billions a quarter and stilled valued north of $70+billion.
+14   

Top 10 most propped recently  2 months ago '16        #8
foshoVoodoo  topics gone triple plat - Number 1 spot x58
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wtf is a klarna
-15   

 2 months ago '15        #9
isthistobe  topics gone triple plat - Number 1 spot x38
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 foshoVoodoo said
wtf is a klarna
Payment option when you checkout most places online
+11   

 2 months ago '18        #10
Turfaholic3 
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I really looked into affirm today. Saw the Samsung flip available through affirm much cheaper than upgrading through Sprint. sh*t got perks. Affirm also reports to the credit agencies. I used uplift to finance a plane tick about 3 months ago. They report to the credit agencies too. Moving forward im use them sh*ts to buy things I can afford. Just to continue to build my credit.
+41   

 2 months ago '06        #11
wario101 
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Im a Command Finacial specialist at my command. Did a financial plan with a junior sailor that had alot of debt. Was the first time i heard of bnpl. Dude had several purchases with it plus all his credit card debt.
Then had the audacity to want to buy a brand new car.

Todays society is all abount instant gratification. Which is why bnpl is so popular.
+20   

 2 months ago '17        #12
Skratch  topics gone triple plat - Number 1 spot x1
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its so many companies moving into this space now
+11   

 2 months ago '11        #13
Sin  topics gone triple plat - Number 1 spot x46
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 ChrisPartlowFro said
Which is why BNPL is going to be a huge space going forward. Our country has no real financial literacy. The amount of Audis I see on the road…
I knew a dude paying $1200 a month for a 8 series while renting an Apartment priorities all fu*ked up
+27   

 2 months ago '16        #14
00010111  topics gone triple plat - Number 1 spot x6
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These people are evil. I'm kinda amazed there's been no political push back to this sh*t but not really.


Last edited by 00010111; 11-27-2021 at 08:02 AM..
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 2 months ago '04        #15
qutaboi225  topics gone triple plat - Number 1 spot x16
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 wario101 said
Im a Command Finacial specialist at my command. Did a financial plan with a junior sailor that had alot of debt. Was the first time i heard of bnpl. Dude had several purchases with it plus all his credit card debt.
Then had the audacity to want to buy a brand new car.

Todays society is all abount instant gratification. Which is why bnpl is so popular.

Not true. The reason BNPL is so popular is because corporations amid record profits still continue to raise the cost of goods along with inflation despite wages remaining stagnant. A fu*king Tahoe is 60k. Phones are over 1k. fu*king DOLLAR Tree made 1 billion profits...paid the CEO 10Ms and STILL raising their price 25%. If you don't BNPL you better be in the top 10% or you won't have sh*t
+33   

 2 months ago '04        #16
jlandryst  topics gone triple plat - Number 1 spot x60 OP
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 Turfaholic3 said
I really looked into affirm today. Saw the Samsung flip available through affirm much cheaper than upgrading through Sprint. sh*t got perks. Affirm also reports to the credit agencies. I used uplift to finance a plane tick about 3 months ago. They report to the credit agencies too. Moving forward im use them sh*ts to buy things I can afford. Just to continue to build my credit.
@ @

You come out better just using secured credit cards secured loans. Those services reporting to the credit agencies don’t do enough to make your credit go up. You will keep getting short term ‘loans’ which actually might hurt your credit. And it messes with the age of your credit history every time e you get one of those short term ‘loans’. There are loans online that help you build your credit like Self Inc.






If you are in the military or got family in the military see if you can get in Navy Fed Credit Union and get their secured credit card. If you can’t get you a secured Discover IT card it’s the best secured card. Also a secured Capital One card use those two cards and keep your credit utilization under 10% and your credit will shoot up. They use soft pulls so they don’t effect your credit that way if you won’t get approved.





















Last edited by jlandryst; 11-27-2021 at 12:24 AM..
+30   

 2 months ago '11        #17
SomeOnesoN  topics gone triple plat - Number 1 spot x2
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What I got out of this is the big companies come in and just absorb these future conglomerates. 29billion ain't no chump change though.
+2   

 2 months ago '15        #18
richmoneycash  topics gone triple plat - Number 1 spot x1
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 bigkilla said
If you think thatís crazy read about Uberís lossesÖ they were losing billions a quarter and stilled valued north of $70+billion.
They cash flow positive now, growth companies often take a while to make money and usually spend heavy on R&D.
+6   

 2 months ago '14        #19
Bigboi781  topics gone triple plat - Number 1 spot x12
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 messy marv stan said
how can a company that supposedly "loses" $344 million allegedly be valued at $46 billion


regular people should be able to use the same financial buffoonery these multi billion dollar regimes use
Itís future value you buffoon. Amazon wasnít profitable for years. Valuation isnít based on strictly profit. Klarna is growing so quickly which is why itís valued so high
+9   

 2 months ago '04        #20
nwking  topics gone triple plat - Number 1 spot x3
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 Blunted Sultan said
gotta adapt to the financial instability somehow. no comment on Audi gang lol.
Bro funny you say the Audi thing. I did a lil experiment on my way home from work 3 mile drive I wanted to see how many Tesla vs Camry's I saw . 3 Tesla, 1 Camry. So yeah people love credit here man
+4   

 2 months ago '17        #21
YAYO101 
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Affirm>

Been testing these services lately just to see what is best (Klarna, Affirm, Zip formerly Quadpay) and Affirm is the best BY FAR because you can use it with more stores. Klarna I used for Transaction on Alibaba, smooth Transaction also got a boost in my Credit Score from using Affirm and Klarna for Transactions and making all my payments on time of course

These are the times in which you should...Use Credit and Save Your Cash!


Last edited by YAYO101; 11-27-2021 at 01:08 AM..
+15   

 2 months ago '04        #22
jlandryst  topics gone triple plat - Number 1 spot x60 OP
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 YAYO101 said
Affirm>

Been testing these services lately just to see what is best (Klarna, Affirm, Zip formerly Quadpay) and Affirm is the best BY FAR because you can use it with more stores. Klarna I used for Transaction on Alibaba, smooth Transaction also got a boost in my Credit Score from using Affirm and Klarna for Transactions and making all my payments on time of course

These are the times in which you should...Use Credit and Save Your Cash!
If you use the Klarna app you can use it at any store. It makes a virtual credit card for you. I was testing it out. You can use it on Tiffanyís website for example.
+5   

 2 months ago '11        #23
awww  topics gone triple plat - Number 1 spot x6
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they going under because people doing that pay later sh*t and ain't paying. they basically getting free sh*t to fu*k up their credit which they will dispute later down the line and just do it all over again. i fu*ked over alot of credit cards when i was younger i had 20k cards ran all of them bi*ches up, then they tried to sue me i ain't have sh*t so they just gave up and wrote it off then i just disputed all that sh*t and wiped it clean. now my sh*t back normal until i decide to fu*k it up again
-6   

 2 months ago '17        #24
Poncho520 
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 Skratch said
its so many companies moving into this space now
Building up for the next crash
+3   

 2 months ago '14        #25
breezeus313 
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 Sin said
I knew a dude paying $1200 a month for a 8 series while renting an Apartment priorities all fu*ked up
honestly, its depends on a couple of things
Are the apartments luxury apartments?
+1   



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