In addition to the new shares, existing owners Highland Europe Technology, which holds a 55per cent stake, and HPE Institutional Fund, which has 13per cent, intend to sell a yet undetermined number of existing shares to create a "meaningful free float." It targets annual revenue growth above 20per cent in the medium term. The company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 21.3 million euros on revenue of 72 million euros for the first nine months of 2021, it said. "Our differentiated and proven 'freemium' business model, combining subscriptions and premium advertising, has underpinned our consistent track record of strong, profitable growth," chief executive Gordon Willoughby said. The company, best known for the WeTransfer file transfer service, has 87 million monthly users and the group estimates it had sales of more than 100 million euros in 2021, it said in a statement. The Amsterdam-based company, soon to be renamed "The Creative Productivity Group NV" said its offer, for which a date has not yet been set, would include both a primary sale of 160 million euros (US$182 million) in new shares and a secondary offering of existing shares by current owners and managers. According to Sky News, WeTransfer would have seen a significant growth in the number of users due to increased home working.AMSTERDAM :The owner of WeTransfer, which offers file sharing and collaboration tools said on Wednesday the company will seek an initial public offering of shares and listing on Amsterdam's Euronext stock exchange.
They take advantage of the high stock prices and can thus raise a lot of capital to grow faster.Įspecially now that the corona vaccine is getting closer, investors are showing optimism, especially in companies that benefit from changed consumer behavior as a result of the corona crisis. That was 480, including many tech companies and almost 100 more than during the internet bubble in 2000. In the past year, more companies than ever went public in the United States. An IPO is the moment for these parties to convert their investment into cash. Venture capitalist Highland Europe invested 22 million euros in the company in 2015 and another 35 million in 2019, at the time with investor HPE Growth. WeTransfer is 90 percent owned by a group of investors. In its own words, it has been profitable since 2013 – it does not disclose turnover or profit figures.Īccording to Sky News, WeTransfer would like to be listed on the Amsterdam stock exchange, when is unclear. WeTransfer has also developed a number of additional services in recent years, including for making sketches and presentations online, but it is still based on the activities the company originally started out with. Money is earned through advertising and subscriptions to WeTransfer Pro, which include the ability to transfer extra-large files (up to 20 GB per file). The company has a so-called unicornStatus: WeTransfer is potentially worth over $1 billion. In addition to its headquarters in Amsterdam, WeTransfer has offices in New York, Seattle and Los Angeles. Founders Bas Beerens and Ronald Hans (better known as blogger Nalden) and CEO Willoughby do not respond to text messages and emails or say they do not want to respond.įounded in 2009, WeTransfer has 60 million users who send 1.5 billion digital files every day that are too large to email. Preparations would start in the coming weeks. This week leaked via the British news channel Sky News on The Telegraph states that WeTransfer is in talks with banks and advisors to guide an IPO of the Amsterdam technology company. CEO Gordon Willoughby had already announced it in 2018: his company WeTransfer may be “going public within a year or two, three”, the Briton said at the time.