Pedestrians walk by an advertisement for Klarna.
Daniel Harvey Gonzalez | In Pictures via Getty Images
Klarna and StubHub are delaying plans to go public after President Donald Trump’s sweeping tariff announcement sent shockwaves through U.S. markets.
The companies put their public market debut on pause because of market turbulence, according to a source familiar with the matter who asked not to be named because the discussions are confidential. Neither company has a new timeline for when they will pursue an IPO, the person said.
Both companies had filed their IPO prospectuses in recent weeks.
Klarna, a Swedish provider of buy now, pay later loans, had planned to go public on the New York Stock Exchange under the ticker KLAR. Online ticket marketplace StubHub was set for an IPO on the NYSE under the ticker STUB.
The announcements are a major blow for venture capital firms, who were counting on a reinvigorated IPO market in the Trump administration after a miserable last few years for big exits.
CoreWeave, an artificial intelligence infrastructure company, debuted last week and became the first venture-backed tech company in the U.S. to raise at least $1 billion in an IPO since 2021. However, CoreWeave slashed its IPO price and then lost value in its first two days on the market. Trading since has been extremely volatile.
Klarna, StubHub and Hinge Health all filed for U.S. IPOs in recent weeks, and some investors were expressing optimism that the floodgates would open. But that was before Trump’s announcement of sweeping tariffs.
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