German online furniture retailer Home24 is reportedly planning an initial public offering on the stock market for this summer.
Manager Magazin reports that the Rocket Internet-backed company is in the midst of preparing a listing, according to sources within the company. We’ve reached out to Home24 for a comment and will update when we hear back. Rocket Internet had no comment.
Home24 was launched in 2011 and had been making a loss for a number of years. However, it saw some improvements in 2017 with sales up 10% to more than €195 million and losses down to €18 million.
Rocket Internet owns 43% of the company with other stakeholders including Kinnevik, Baillie Gifford, and HV Holtzbrinck Ventures. It has raised more than €150 million in funding with a reported valuation of around €420 million, down from its original valuation of more than €900 million.
Rocket Internet companies HelloFresh and Delivery Hero listed last year.