Klarna CEO Celebrates OpenAI Deal with Jony Ive
▼ Summary
– Sam Altman and Jony Ive announced OpenAI’s $6.5 billion all-stock acquisition of Ive’s company, io.
– Klarna CEO Sebastian Siemiatkowski revealed his family’s investment firm, Flat Capital, had invested $3.6 million in io six months prior and will now receive OpenAI shares.
– Former Googler Luke Wroblewski hinted Sutter Hill Ventures was a major io investor, though his posts were later deleted and the claim remains unconfirmed.
– OpenAI was io’s largest investor with a 23% stake worth $1.5 billion, paying $5 billion in stock for the remaining shares.
– Other io backers included Emerson Collective, Thrive Capital, Maverick Ventures, SV Angel, and the OpenAI Fund, which is funded by external investors.
The recent OpenAI acquisition of Jony Ive’s design firm io has sparked significant attention, particularly from early investors now poised for substantial returns. Among them is Klarna CEO Sebastian Siemiatkowski, whose family investment office, Flat Capital, revealed its stake in io just six months before the $6.5 billion all-stock deal was announced.
Siemiatkowski took to social media to express enthusiasm about the unexpected windfall. “Excited that @FlatCapital was an investor in io and that we will now receive even more shares in OpenAI at a hefty return for an investment we did some 6 months ago,” he tweeted. The post quickly gained traction, prompting Flat Capital to confirm io as one of its previously undisclosed investments in a U.S. AI “mini-portfolio.” The firm disclosed spending approximately $3.6 million (34 million SEK) on its io stake, which will now convert into OpenAI equity.
The news also drew reactions from other early backers, including former Googler Luke Wroblewski, now a managing director at Sutter Hill Ventures. In since-deleted posts, Wroblewski congratulated io on the acquisition, hinting at Sutter Hill’s involvement. While the exact size of its investment remains unclear, sources suggest the firm may have been io’s second-largest investor. Neither Sutter Hill nor Wroblewski responded to requests for comment after the posts were removed.
OpenAI emerged as io’s primary investor, holding a 23% stake valued at roughly $1.5 billion, according to Bloomberg. The remaining shares, worth approximately $5 billion, were acquired from other backers, including high-profile names like Emerson Collective (Laurene Powell Jobs’ firm), Thrive Capital, Maverick Ventures, and SV Angel. Notably, the OpenAI Fund—though not directly financed by the company—also participated in the deal.
The acquisition underscores the growing convergence of AI and design, with OpenAI securing io’s creative expertise while rewarding early supporters with significant equity upside. As details continue to unfold, the deal highlights how strategic investments in emerging tech can yield outsized returns in a rapidly evolving market.
(Source: TechCrunch)
