Made.com prices IPO at £775m
Posted on June 16, 2021 by Jonathan Symcox
Online furniture retailer Made.com has priced its IPO at £775.3 million.
The London-headquartered company will join the main market of the London Stock Exchange.
The price is below the £1 billion target widely reported earlier this month.
Co-founded by entrepreneur Brent Hoberman, founder of Lastminute.com, in 2010, the business intends to raise £100 million in an IPO which will see some existing investors sell shares.
The firm saw a 30% increase in sales last year to £315m, but made a loss of just over £5m. In the first three months of 2021, sales rose 63%.
Made.com has expanded its product offering to include homewares and lifestyle, with more categories in the pipeline.
As well as the UK site, it operates in seven markets in mainland Europe including France and Spain. It plans to launch in further territories.
“The IPO is an exciting milestone for MADE. I would like to thank everyone who has been a part of our growth journey, especially our employees, as we deliver on our vision of becoming the leading home destination in Europe for digital natives,” said CEO Philippe Chainieux.
“Our successful track record in the UK and internationally has been made possible with the foundations that we have built over the last eleven years – a unique combination of a well-recognised brand, a proprietary, data-driven platform, and a bespoke, vertically integrated supply chain connecting our network of designers, artists and collaborators with our customers.
“A listing in London, where the business was founded, will enable us to accelerate our growth as we lead the development of the online furniture and homewares market as it moves online, both in the UK and internationally.”