The Dutch internet company We Transfer is considering a European IPO and the Euronext stock exchange in Amsterdam best suits its needs, the Telegraaf reported on Tuesday.
We Transfer CEO Gordon Willoughby, who came to the company from Amazon, has said a US IPO is out of the question due to the company’s size, the paper said. He first mooted the IPO in May.
We Transfer is a cloud-based computer file transfer service. The company was founded in Amsterdam in 2009 by Bas Beerens and Ronald Hans, best known as the blogger Nalden. It evolved from Beerens’ frustration at not being able to share large files easily.
The core service is free, with more features available for premium accounts. Free users can send files up to 2GB; WeTransfer ‘Plus’ supports sending files up to 20GB and offers features like password protection, channel customization and 100 GB storage.
Willoughby said an IPO would provide investors an opportunity to cash in their early investment and give the company extra impetus to grow. We Transfer has been profitable since 2013.
The company wants to expand in the US which is the world’s largest market for online advertisements and an IPO in Amsterdam would not limit plans, the paper said. Willoughby cited the great international interest in payments systems processor Adyen whose shares shot up 75% on their first day of trading in Amsterdam in June.
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