As a result of the pandemic and subsequent lockdowns, many companies had to scale up rapidly as they witnessed a rise in demand for their services. With working from home being the new norm, it became clear that high-speed internet connection, remote video conferencing solutions, and other supplementary technology were imperative. Banking on the growth it witnessed last year, Amsterdam-based File transfer scaleup WeTransfer is reportedly planning for a stock market flotation in the coming months.
WeTransfer IPO coming soon?
As per a report by Sky News, WeTransfer is said to be in talks to appoint investment banks that would oversee an initial public offering (IPO). This IPO is expected to take place in Amsterdam. The report further suggests that advisers could be hired to work on the IPO in the coming weeks. However, the precise timing and the size of it are yet to be known.
While WeTransfer has not commented on the rumour about the IPO, it wouldn’t really come as a surprise if and when it happens. The company will be one of many tech unicorns that have been reported to take the IPO route after witnessing a massive jump in revenues during COVID-19. The food delivery company Deliveroo, online greeting cards retailer Moonpig and the fintech TransferWise are all said to be working with bankers to soon go public in London.
What WeTransfer offers
WeTransfer’s key offering is the online file sharing system, which enables users to share large files online. During the pandemic, the company’s services are said to have seen increased demand too. In addition to the file-sharing services, WeTransfer also offers Paste, which is a feature to design and present decks online.
Then, there’s the Collect app, that enables users to take screenshots, scribble and save anything they need. It is said to be the go-to app for saving and sharing all the stuff one may need. Finally, the company offers Paper, which is a software solution to enable sketch, type, paint, and draw options.
Becoming a B-Corp
Back in June, 2020, WeTransfer obtained its B Corporation certificate, with which the company joined the ranks of most ethically and sustainably responsible companies. The company’s CEO, Gordon Willoughby, said that it took a lot of hard work to obtain the status and that the 10th anniversary of the company was a perfect occasion to aim for certification.
As per the B Corporation’s website, companies that are certified “meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.” Willoughby says, “For us the certification embeds the purpose in the company. It’s a good rallying point.”
