WeTransfer, which now has 87 million users, is going to the Amsterdam stock exchange

Image ANP

The service to send large files is free to use, or through a subscription model. In its own words, half of WeTransfer’s revenue comes from subscribers, the other half from the ads shown in the free version.

The service was founded in 2009 by Bas Beerens, Rinke Visser and blogger Nalden (real name Ronald Hans). They were frustrated that sending large files over the Internet was not possible or not user-friendly. The company now has 87 million users and 387 thousand subscribers, and offices in Amsterdam, Los Angeles and New York.

30 percent revenue growth

WeTransfer tells news agency ANP that it has seen its turnover grow by an average of 30 percent in recent years until 2020. Last year, the company benefited from working from home with an even greater increase, bringing turnover above 100 million euros. In addition, WeTransfer is profitable. In the first nine months of 2021, the operating profit margin was 30 percent.

At the IPO, WeTransfer will issue approximately 160 million euros in new shares. In addition, current investors and some early employees will sell shares. It is not yet known when the company will go public, or how much money WeTransfer expects to raise with the IPO. WeTransfer wants to grow further with the proceeds from the placement of new shares, for example by making acquisitions.

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