WeTransfer withdrew its IPO plans to be held in Amsterdam after the hard sales of technology shares reduced investor appetite.
In the statement made by the company, it was stated that the public offering was withdrawn due to the volatility in the markets. The company had reduced its financing target by 20 percent in the first place and revised it to 125 million euros. With the proposed public offering, the company’s value reached 716 million euros.
Legal & General Investment Management fund manager Gavin Launder noted that market conditions were partially effective in their non-participation in the said public offering. “The company has no barriers to entry and Google and Amazon.com Inc. He stated that the possibility of companies with cloud infrastructure such as “entering the sector” is effective.
Speaking to Bloomberg, a source said that the company is considering many possibilities, and options such as IPO or merger / acquisition are not excluded in the future.
WeTransfer, which has already revised its valuation expectations, missed its chance to obtain the “Unicorn” title, which is used for startups reaching 1 billion dollars. In a statement on the subject, Irena Goldenberg, one of the partners of the company, stated that the decision to cancel the public offering did not change the long-term plans of staying as partners of Highland Europe Technology and HPE Institutional, which are planning to sell some of their shares.