Aren’t they Swedish? Why is the IPO in the US?..
Spotify is also sold on Wall Street… Defeatist tech bros mindset, thinking you can do big business only in the US (even if you have already done big business elsewhere).
Or - they think they will attract more capital by going public in the US. I wish the state would do sth to prevent it.
it’s just easier to get capital
The problem is not that Europe lacks ideas or ambition. We have many talented researchers and entrepreneurs filing patents. But innovation is blocked at the next stage: we are failing to translate innovation into commercialisation, and innovative companies that want to scale up in Europe are hindered at every stage by inconsistent and restrictive regulations.
As a result, many European entrepreneurs prefer to seek financing from US venture capitalists and scale up in the US market. Between 2008 and 2021, close to 30% of the “unicorns” founded in Europe – startups that went on the be valued over USD 1 billion – relocated their headquarters abroad, with the vast majority moving to the US.
Klarna been going to shit for a few years now, this just seals that. Garbage company.
I mean, BNPL scheme is extremely exploitative. It makes people accumulate debt because they buy impulsively. Their direct payment system is convenient, but it is very hard to have sympathy for this kind of business…
