I would say the price is driven by the supply and demand for the shares, and given that they just raised money for the 3rd time in less then a year, with new investors coming in each time, it seems that demand is pretty astronomical. On the subject of IPOs though, I wouldn't expect them to make moves anytime soon though:
"Klarna has long been rumored to be going public via a direct listing. Siemiatkowski said that the company in many ways already acts like a public company in that it offers stock to all its employees, and reports financials — giving the impression that the company is not in a hurry to go the public route.“We report quarterly to national authorities and are a fully regulated bank so do all the things you expect to see from public companies such as risk control and compliance,” he told TechCrunch. “We’re reaching a point for it to be a natural evolution for the company to IPO. But we’re not preparing to IPO anytime soon.”
APT Price at posting:
$99.85 Sentiment: Hold Disclosure: Held
