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WeTransfer Withdraws IPO Amid Pressure From Tech Stock Rout

Stock was scheduled to start trading in Amsterdam on Friday
Startup had targeted a valuation of up to 716 million euros

WeTransfer Is Said To Plan IPO At 1 Billion-Euro Valuation — Photographer: Gabby Jones/Bloomberg

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By Kat Van Hoof and Swetha Gopinath

January 27, 2022 at 8:16 AM UTC

Updated on

January 27, 2022 at 11:05 AM UTC

This article is for subscribers only.

WeTransfer pulled plans for an initial public offering in Amsterdam after a selloff in technology stocks hit investor appetite.

The offering is being withdrawn due to volatile market conditions, the file-sharing platform said Thursday. Last week, the company knocked 20% off its original proceeds target, seeking to raise 125 million euros ($140 million). The proposed IPO had valued the company at as much as 716 million euros.