Finance

WeTransfer goes to the stock exchange in Amsterdam

WeTransfer had already mentioned a few times that it might want to go to the stock exchange and now the time has come. The company wants to issue 160 million euros in new shares. Current shareholders sell part of their shares.

It has not yet been announced when WeTransfer will go public. That depends, among other things, on market conditions, the company says.

WeTransfer wants to use the proceeds of the newly issued shares to be able to grow further. It also wants to make acquisitions.

Benefits from corona

WeTransfer has benefited from the corona crisis because many people work from home. The company’s revenue grew at an average 31 percent per year between 2018 and 2020.

Growth continued in 2021. In the first nine months of that year, turnover increased by 68 percent to 72 million euros. Over the whole of 2021, the company expects to achieve a turnover of around 105 million euros.

The company is making a profit, but for the first nine months only the profit before interest, taxes, depreciation and amortization (EBITDA) was disclosed. This amounted to 21.3 million euros, which was 75 percent more than in the same period a year earlier.

87 million users per month

WeTransfer claims to have 87 million monthly users. Of those, only 387,000 are subscribers. WeTransfer also earns money from non-paying users, because they see advertisements when sending files.

Advertising revenues were one-third higher than subscriber revenues for the first nine months of the year. However, subscriber income grew faster.

In addition to sending large files, WeTransfer also has components that allow customers to make online notes and presentations.

Amsterdam is increasingly becoming a tech fair

With WeTransfer, the Amsterdam stock exchange gets even more of the character of a tech fair. The largest company in Amsterdam and in the AEX index is ASML, which makes chip machines with which chip manufacturers such as Samsung and Intel assemble chips. ASMI and Besi, two other chip machine makers, are also in the AEX.

Furthermore, payment company Adyen is a large Dutch company that is listed in Amsterdam. Other tech companies in Amsterdam are Prosus (which has a large stake in the Chinese internet giant Tencent, among other things) and Just Eat Takeaway.com.

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