FTI Consulting News Bytes – 12 September 2025

FTI Consulting News Bytes

This week, we delve into Klarna’s successful IPO in New York, which secured the company a $15bn valuation. Next, we cover the launch of Amazon-owned Zoox’s autonomous vehicle service in Las Vegas—the first U.S. robotaxi to operate without a steering wheel, offering passengers a truly driverless experience. We also spotlight Vimeo, set to be acquired by app developer Bending Spoons, following four years of navigating the disruptive video technology landscape. We then turn to Europe where Nokia is strengthening its commitment to next-generation connectivity with the launch of its new “Home of Radio” campus in Finland, aimed at advancing 5G and 6G radio innovation and solidifying Europe’s role in the global AI supercycle. Finally, Uber aims to expand its air mobility ambitions. Through Uber’s ongoing partnership with air taxi manufacturer Joby, the company plans to offer helicopter and seaplane services via the app by 2026.  

This week’s news

Klarna climbs in New York trading debut

It was a bright start for Klarna Group Plc this week, as they made their Wall Street debut after securing a $15bn valuation, and seeing shares rise by almost 15% in trading following their $1.37bn IPO. As reported by Bloomberg, Klarna CEO Sebastian Siemiatkowski emphasised that the IPO signals Klarna’s evolution beyond its “buy now, pay later” roots as the company now offers banking products like savings, checking accounts and credit cards. Additionally, Klarna has been expanding its “fair financing” product, which allows customers to pay for larger items over time. Klarna’s IPO comes amid a revived US market for new listings, with $25.7bn raised in first-time share sales this year, surpassing 2024 figures. In the midst of the positive limelight, critics still maintain that their business model of lending encourages reckless borrowing from vulnerable customers. 

Amazon goes driverless

Amazon’s flurry into the driverless car space has taken off after launching earlier this week in Las Vegas. The Amazon-acquired tech company known as Zoox operates as a robotaxi and uniquely features no steering wheel or pedals. Instead, two bench-style rows face each other, with the vehicle able to drive in either direction thanks to bidirectional controls. According to the Financial Times, its limited rollout in Las Vegas is its first attempt at offering services to the public and represents a key milestone for Zoox’s plans to launch in San Francisco. Zoox is reportedly aiming to roll out roughly 5,000 robotaxis annually by the end of next year. For the time being, however, Zoox journeys will restrict users’ pick-up and drop-off choices, but initial rides will be free as the group seeks to attract users and gather feedback. 

Bending Spoons hits “play” on Vimeo acquisition

Elsewhere, TechCrunch reported that video platform Vimeo is set to be acquired by app developer Bending Spoons for $1.38bn. Since its 2021 debut, Vimeo has lost around 90% of its market value, struggling to differentiate itself in a competitive video landscape dominated by YouTube, while smaller platforms vie for a share of the professional creator market. This acquisition follows Bending Spoons’ purchase of WeTransfer in July last year, part of its broader strategy to grow by acquiring complementary platforms and products. CEO Philip Moyer said the company plans to expand its self-service tools, OTT streaming via Vimeo Streaming and enterprise offerings. 

Nokia launches “Home of Radio”

Nokia has announced the opening of its new, state-of-the-art R&D and manufacturing campus in Oulu, Finland, that will design, test and deliver next-generation networks built for AI. The opening ceremony was attended by the President of the Republic of Finland, Alexander Stubb and officials from the Finnish Government, customers, partners and employees. Justin Hotard, President and CEO of Nokia, commented that the company’s teams in Oulu “are shaping the future of 5G and 6G, developing our most advanced radio networks,” adding that Oulu embodies Nokia’s “culture of innovation and the new campus will be essential to advancing connectivity necessary to power the AI supercycle.” Capacity Media notes that the facility is designed to ensure Europe remains at the forefront of 5G and 6G innovation as the world enters the AI supercycle, while Telecoms.com adds that the Oulu campus marks “a major statement of intent, both technologically and geographically.” President Stubb commented that the investment is “great news and it’s a statement that it pays off to invest in Finland.” 

Joby to help Uber take flight by 2026

Finishing on a high, air taxi maker Joby Aviation plans to add helicopter and seaplane services to the Uber app as soon as 2026, according to Reuters. This announcement follows Joby’s $125 million acquisition of Blade, a helicopter and air transportation company, in August. Uber will be able to offer short-haul flights between airports and city centres, as well as helping to ease congestion. The move builds on Joby’s existing relationship with Uber, which was established in 2019, and the acquisition of Uber’s flying taxi segment, Elevate, a year later. The air taxi is an electric vertical takeoff and landing (eVTOL) aircraft, designed to take off and land vertically without the need for a runway and carry four passengers and a pilot. As the demand for efficient and sustainable urban transportation grows, air taxi companies like Joby are racing to secure approval and commercialise their products. Once certified, Joby plans to launch air taxi services in the UK, Japan, Los Angeles, New York and Dubai.  

Top Tweets of the Week

• Tim Cook, CEO at Apple: “AirPods Pro 3, the new Apple Watch lineup, iPhone 17, iPhone 17 Pro, and the all-new iPhone Air—here’s everything we just announced!”
• Vlad Savov, Tech Editor at Bloomberg: “Always remember that asking AI = asking The Internet. You’ll be receiving the wisdom of the YouTube comments section, the LinkedIn essayists, the crypto peddlers, the do-your-own-research crowd and the Reddit day traders, among others…”
• Tim Robinson, Editor in Chief at Aerospace: “Tekever say they are now developing a AI-enabled rear camera option for the AR3 EVO to allow it to ‘see’ interceptor drones and then evade them. UAV to be built in the UK too with factory location announced next week. #DSEI” 

Number of the week

£2000 The amount the new iPhone 17 Pro Max will cost in the UK, making it the most expensive to ever go to market. (LBC)