(Courtesy of Made.com)
Online furniture retailer Made.com is planning an IPO this year that could value it at as much as £1 billion, Sky News reported.
- The London-based company has hired JP Morgan, Morgan Stanley and Liberum to explore a potential listing. It could also look for an investor to purchase either a strategic stake or the entire company, the report said.
- Made.com is currently backed by investors including Partech Ventures, Level Equity and Eight Roads. The company's last fundraise in 2018 saw it bring in £40 million. Made.com has expanded throughout Europe since its 2010 founding, and its most recent financial statement showed a 22% year-over-year increase in sales to £212 million in 2019.
- The company would be the latest in a string of retailers choosing to go public on the London Stock Exchange. Online greeting card and gift company Moonpig was valued at £1.2 billion in its debut earlier this month, while shoe brand Dr. Martens listed in January with a market cap of around £3.7 billion.