File sharing platform WeTransfer is preparing for an IPO

WeTransfer, which is valued at approximately 1 billion euros, is preparing to be offered to the public on the Amsterdam Stock Exchange. While the company is expected to collect 160 million euros from this offering, the two biggest investors in the file sharing platform, Highland Europe Technology and HPE Institutional Fund II, will also sell their shares. WeTransfer CEO Gordon Willoughby stated that the company increased its revenues by 64 percent on an annual basis to 72 million Euros in the first three quarters of 2021, and they expect it to close the entire year above 100 million Euros. In the statement made by the company, it was noted that the founding partner, Bas Beerens, will sell an undisclosed number of shares and will resign from the Supervisory Board after the public offering. The firm also said it plans to use some of its IPO proceeds to expand the company. Highland Europe (55 percent) is the largest shareholder of the company, which develops creative devices for services such as file sharing and remote assistance, while the investment company HPE Growth had a 13 percent share of the company in return for its 35 million investment in 2019.