Swedish fintech company Klarna – one of the original buy now pay later firms which popularised the category for young consumers – has announced it’ll cut 10% of its global workforce just days after reports its private market valuation would soon fall. Klarna’s founder and CEO Sebastian Siemiatkowski sent a memo to staff on Monday, which informed them 10% of the company’s approximately 5,000...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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