WeTransfer Plans IPO at 1 Billion-Euro Valuation

File-sharing platform WeTransfer plans to seek a valuation of about 1 billion euros ($1.2 billion) from a proposed initial public offering later this year, people familiar with the matter said.

The company is preparing a listing on the Amsterdam stock exchange with advisers, the people said, asking not to be identified because the plans are private. The IPO could happen as early as this month, depending on market conditions, but could shift to the second half of the year, one of the people said. Discussions are ongoing and the timing and value could still change, they said.

This year is on track to be the largest for European technology and internet IPOs in more than a decade, with companies raising more than $11 billion from listings in 2021 so far, according to data compiled by Bloomberg.

That’s even as several high-profile share sales flopped in their first weeks of trading or were forced to downsize in the run-up to their debuts. London-based Deliveroo Plc is down about 37% since its March IPO and Darktrace Plc cut its valuation by about half before going public, people familiar with the matter had said.

A representative for Amsterdam-based WeTransfer declined to comment.

WeTransfer, run by Chief Executive Officer Gordon Willoughby, develops tools used for file sharing and remote collaboration. The company, founded in 2009, counts venture capital firm Highland Europe as its biggest investor with a 57.6% stake, according to its website. HPE Growth, which led a 35 million-euro investment round in 2019, holds 13.5%.

©2021 Bloomberg L.P.

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