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The company behind file sharing service WeTransfer is planning to go public. At the IPO, the company will issue shares for approximately 160 million euros. The investors and a number of employees and former employees will also sell shares.
It is not yet known when the company will go public and what the IPO should yield. What is clear is that the company behind WeTransfer, WeRock, gets a new name: The Creative Productivity Group NV.
WeTransfer was founded in 2009 by Nalden, Rinke Visser and Bas Beerens as a free service for sharing large files. In 2012, WeTransfer added a Pro service for sharing larger files and encrypting files with password. In recent years, the company has grown through various acquisitions and investment rounds. An IPO has therefore been in the offing for some time.
WeTransfer, which has about 87 million users, has been profitable for several years now, thanks to a combination of advertising revenue and a subscription model. In 2021, the company earned around 100 million euros. Besides WeTransfer, WeRock also offers a number of other software services. With the IPO, the company hopes to raise money to further grow, make acquisitions and develop new products. It also plans to expand to more countries, such as South America and Asia.
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