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Karen Kwok Profile
Karen Kwok

@KarenKKwok

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Journalist at Reuters Breakingviews giving opinions via London. Eyes on global tech, fintech, food delivery. A HKer/whisky lover 🥃 Ping me: karen.kwok @tr .com

London, England
Joined June 2009
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@KarenKKwok
Karen Kwok
8 months ago
I've talked to a dozen people from BNPL companies, consultants, analysts and banks in the past month, reporting and writing about how does "Buy Now Pay Later" work. Here's the result of the work:
@Reuters
Reuters
8 months ago
On @Breakingviews : Pay-later lending is reshaping how people buy online. Banks are scrambling to catch up with upstarts like Klarna and Affirm, while regulators fret about unsustainable debts. @KarenKKwok and @peter_tl explain why a reckoning is on its way
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@KarenKKwok
Karen Kwok
a day ago
Klarna’s valuation in the next funding round may go as low as $6.5 billion, WSJ said. A huge down round from the $46 billion valuation last year and completely wiped out pandemic gains then. Time to face the reality?
@eliotwb
Eliot Brown
a day ago
This also shows the extraordinary disconnect between people used to buoyant valuations and the reality on the field Klarna's CEO 6 weeks ago: “I’m not convinced. We’ll see what happens. We’ll see,” he said when asked if it would be a “down round”.
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@rahulsas2003
Rahul Kr Verma
2 days ago
Mark Zuckerberg: “If I had to bet, I'd say that this might be one of the worst downturns that we've seen in recent history. I have to underscore that we are in serious times here.” ⁦ @Reuters ⁩ ⁦ @TheTranscript_ ⁩ $META
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@MarkKleinmanSky
Mark Kleinman
2 days ago
Exclusive: Klarna, the buy now pay later credit provider, is asking investors to finalise commitments to a funding round of approximately $600m that would value the company at close to $10bn - a huge slump from its $46bn valuation two years ago. Full story on @skynews shortly.
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@jasonschreier
Jason Schreier
3 days ago
News: Niantic, which has struggled to find a big hit since 2016's Pokemon Go, is canceling four projects and laying off 8% of staff (or around 85-90 people), Bloomberg News has learned:
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@TheStalwart
Joe Weisenthal
3 days ago
Viking Global is raising a special fund, whose whole purpose is to allow startups to raise money without formally taking a down round. via @GillianTan and @parmarhema
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@dasha_reuters
Dasha Afanasieva
5 days ago
Reuters' new president is Paul Bascobert. From what I can see, he's been CEO or president of four companies. One of them was a SPAC and the rest got sold to a bigger rival or private equity soon after he joined. 🤔
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@Breakingviews
ReutersBreakingviews
5 days ago
At its recent stock price lows, Robinhood is a pile of cash with a digital brokerage thrown in virtually for free. Assuming the most valuable customers stick around, it makes sense for acquirers to be circling, says @johnsfoley .
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@KarenKKwok
Karen Kwok
5 days ago
And market thinks that doesn’t bode well for Coinbase… shares down over 10%.
@KarenKKwok
Karen Kwok
5 days ago
Sam Bankman-Fried’s FTX Seeking to Buy Robinhood. So it’s happening.
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@Lucas_Shaw
Lucas Shaw
8 days ago
Spotify has spent more than $1 billion on podcasting over the last 4 years. Podcasting now accounts for about 7% of listening hours, and 2% of sales.
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Karen Kwok Retweeted
@Hugh_Son
Hugh Son
9 days ago
Breaking: JPMorgan Chase, one of the largest employers in the U.S. financial industry, told employees that it will pay for travel to states that allow legal abortions, according to a memo obtained exclusively by CNBC.
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@rob2775
Rob Fernandes
9 days ago
Comically public spat between @Klarna & @Barclays over #BNPL . Klarna, which has spent years pumping out anti-card PR disguised as consumer debt advice, overreacts to Barclays anti-BNPL debt advice PR - the latter at least rooted in levelling up regulation.
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