After Snoop Dogg and Lady Gaga, American rapper A $ AP Rocky invests in Klarna, becomes CEO for a day
Swedish fintech unicorn Klarna recently planned to go public with a valuation close to $ 50 billion. He announced that Rakim Mayers (better known as A $ AP Rocky) has become a shareholder of the company and will assume the role of CEO of the company for one day. He joins hip-hop legend Snoop Dogg and pop star Lady Gaga; who also supported the Swedish unicorn.
Sebastian Siemiatkowski, CEO and Co-Founder of Klarna, says: “A $ AP Rocky defies categorization; a musician, actor, philanthropist, thought leader in style, and basically someone who understands what the audience wants from so many points of view. He challenges the status quo every day. As the consumer experience in retail now demands discovery, conservation and sustainability, at Klarna we have a lot to learn from them. Also, after sixteen years since Klarna was founded, I think I deserve a day off.
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Who is Rakim Mayers?
Rakim Athelaston Mayers, known professionally as A $ AP Rocky, is an American rapper, singer, songwriter and actor. His name was inspired by the hip hop collective A $ AP Mob, of which he is a member. The artist is naturally apt to take the reins, Klarna says, because he shares the company’s passion for innovation and consumer empowerment.
Speaking on the development, A $ AP Rocky said, “Klarna is a company that looks to the future and challenges the status quo, which makes partnering with them so appealing to me. I’m excited to start working with Klarna in a number of ways, including jointly creating a space for people to rediscover style as we come out of a global fashion hibernation.
During his one-day tenure as CEO on June 1, Rocky curated exclusive content within the Klarna app focused on fashion, specifically recycling and vintage clothing. According to the statement, “Rocky has given up on the hibernation of global fashion that dominated last year and invited everyone to rediscover the joy of dressing.”
Rocky joins Klarna’s GiveOne sustainability initiative
In addition to joining as CEO for a day, the test artist will also join Klarna’s recently launched GiveOne sustainability initiative by committing to 1% of her investment in climate and biodiversity projects.
Concretely, Rocky selected the Miti Alliance in Kenya and its founder Michael Waiyaki, which works to slow the impact of climate change due to deforestation. The impact of his contribution will be monitored on his behalf in the months and years to come.
According to the press release, Klarna and A $ AP Rocky (whose new album All Smiles with Morrissey is expected to arrive soon) will announce the next step in their partnership shortly.
Last month in May, Klarna announced that Roger W. Ferguson Jr would join its board of directors. Ferguson is the former Vice Chairman of the Board of Governors of the US Federal Reserve, former Chairman and CEO of TIAA, the Steven A Tananbaum Distinguished Fellow for International Economics at the Council on Foreign Relations. In addition, he also served on President Obama’s Council on Jobs and Competitiveness as well as its predecessor, the Economic Recovery Advisory Board.
Ferguson will join the board chaired by Michael Moritz, partner at Sequoia Capital, as well as the recent appointments of other new members: Omid R. Kordestani, former executive chairman of Twitter, Lise Kaae of Bestseller Group and Sarah Smith, senior advisor at Goldman Sachs.
Prior to that, in April 2021, Klarna announced the launch of CO2 information for all purchases as part of its 1% pledge, involving the donation of $ 10 million to initiatives supporting the health of the planet. Klarna believes her own carbon footprint will be addressed through this new approach. By 2030, the company aims to reduce its emissions by 50% and, from 2021, it will make annual financial contributions to high-impact climate projects, including carbon elimination, blue carbon initiatives, reforestation and forest protection; and emission reduction with high impact projects.
The fintech company has partnered with Doconomy, which provides digital solutions to help track and measure the carbon footprint, to provide buyers with an average kgCO2 value for each purchase. The partnership introduces CO2 data globally and is made available free of charge in the Klarna app.
Founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson, Klarna is an e-commerce payment solutions platform for merchants and buyers and is also a regulated bank known for its ‘buy now, pay later’ model. – Provides buyers with interest-free financing on retail purchases over an installment period.
In addition, users can also browse and buy online in any brand with Klarna payment options, track spending and available balances, add favorite items to wishlists, access personalized discounts, receive discounts. Price drop notifications, track deliveries and join Klarna’s new loyalty program, Vibe.
The company is backed by investors such as rapper and artist Snoop Dogg, Sequoia Capital, Silver Lake, Bestseller Group, Dragoneer, Permira, Visa, Ant Group, and Atomico, among others.
Klarna offers direct payments, post-delivery payment options and installment plans and has over 200,000 business partners, including giants such as H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress.
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