WeTransfer considers IPO in Amsterdam: Everything you need to know about the Dropbox rival

WeTransfer considers IPO in Amsterdam: Everything  you need to know about the Dropbox rival

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A few years ago, if you tried to share a large file, you would need to copy that file in a disc or pen drive and personally hand it over to the concerned recipient. However, the entire scenario changed drastically with the launch of a cloud-based file sharing services.

Currently, we have lots of options including Dropbox, Box, Google Drive and much more. Having said that, the recent one to hit the headline is the Dutch scaleup WeTransfer and it’s for a good reason. A few weeks back, WeTransfer, an online file-sharing software that lets its users transfer large digital files came up with a statement of going public around 2021.

WeTransfer hits headlines for good!

In the most recent news, WeTransfer considering a European IPO and the Euronext stock exchange in Amsterdam. Profitable since 2013, this IPO will provide an opportunity to take advantage of investors early investment and in turn gives the company a much need boost to grow as per Gordon Willoughby, CEO, We Transfer.

US IPO is out of equation!

According to Gordon Willoughby, US IPO is out of the equation at present considering the company size. He also said he wanted to expand the company in the US, which is the world’s largest market for online advertisements.

Raised $25M!

Founded by Bas Beerens, Rinke Visser and Ronald Hans in 2009, WeTransfer has raised a total funding amount of $25M in a single funding round. The company said the investment would be used to continue product innovation and further build its brand across the United States, Europe, and beyond.

40 million users across 195 countries!

This platform helps around 40 million users every month to send more than one billion files. With WeTransfer, users can send files up to 2GB freely, whereas the premium WeTransfer ‘Plus’ supports sending files up to 20GB and also offers various features like password protection, channel customization, and 100 GB storage as well.

Born out of frustration!

WeTransfer was launched as a result of Beerens’s frustration for being unable to share large files easily. The company also works with huge brands like Google, Samsung, Netflix and Squarespace to develop and deliver full-screen advertisements on its billboard.

Generous!

Furthermore, WeTransfer has given away 30% of the background wallpaper images (advertising space) to support and showcase artists, designers, musicians, illustrators, photographers and creative organizations. The company currently employs around 90 people based in offices in Amsterdam and Los Angeles.

For more updates, stay tuned to Silicon Canals.

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