Rocket Internet’s Home24 reportedly planning an IPO this summer

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.

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