WeTransfer at around 700 million worth at IPO | Financial

WeTransfer wants to raise €125 million with the IPO with the issuance of new shares, which will cost between €17.50 and 20.50 each. In addition, existing shareholders are putting 5.4 million shares in the market, with which they will redeem for between €94.5 and €110.7 million. This means that a maximum of 43.5% of the shares will be freely tradable on the market.

In previous funding rounds in 2015 and 2019, Highland Capital Partners Europe and HPE Growth invested €22 million and €35 ​​million in WeTransfer.

WeTransfer was founded in 2009 by Dutch tech entrepreneurs Bas Beerens, Rinke Visser and Ronald Hans out of frustration about the fact that heavy files often get stuck at the maximum size of files that can handle e-mail messages. This causes problems, especially in creative professions. 87 million people now use the services of WeTransfer every month.

Creative professions

Most of WeTransfer’s customers, often active in creative professions, use the free service to transfer heavy files via WeTransfer’s servers. This earned the company €40 million in advertising money in the first nine months of 2021. More than €30 million was earned from users who have subscriptions to more luxurious versions of the software.

In addition to file transfer software, the company also offers apps for creating drawings and organizing and saving videos, images and ideas. The company believes that this is particularly necessary in the creative professions that WeTransfer focuses on. That market was worth about $66 billion in 2021, but is estimated to grow to $77 billion this year.

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