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Klarna sells off Hero assets

Apr 22, 2024
an illustration of a shoebox filled with dollar bills

Illustration: Tiffany Herring/Axios

BNPL company Klarna has sold off assets of Hero, an e-commerce expert platform, for roughly $1.3 million.

Why it matters: Companies have started divesting some aggressive bets made during the ZIRP era.

Zoom in: Hero, which sells personalized shopping via chats and video calls, was acquired in 2021 for about $160 million, per the Wall Street Journal.

  • Three years later, Bambuser (STO: BUSER), a Stockholm-based video shopping company, is buying its tech.
  • Klarna said in a statement that it will retain the Hero brand, as well as more than 100 of its employees.

Between the lines: This all comes as Klarna is seeking to shape up for a potential IPO.

State of play: Klarna's sale of Hero follows FIS divesting a majority stake in Worldpay this year.

  • Last year, Uber sold a majority stake in Middle East-focused Careem.
  • Last month, PayPal CEO Alex Chriss said the company is weighing the sale of slow-growth businesses it had acquired.

Editor's note: The story and headline have been updated to clarify that Klarna sold Hero's assets but retained more than 100 employees.

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