File-sharing company WeTransfer cancels IPO plans
File-sharing company WeTransfer announced on Thursday that it no longer plans to list on the Amsterdam Stock Exchange.
The group’s parent company WeRock said it had made the decision due to "volatile market conditions, notwithstanding the substantial investor demand received".
WeTransfer chief executive Gordon Willoughby said: "While we have decided not to proceed with our public listing due to volatile market conditions, our commitment to address the needs of our global community of 87 million monthly active users remains as strong as ever.
"I would like to thank our users, partners, the WeTransfer team and our shareholders for their continued support. Together, we remain fully committed to being a responsible business, pursuing our strategy and continuing our growth trajectory as we capitalise on the opportunities ahead of us."
Last week, WeTransfer had said it was looking to raise €125m from the IPO.