Dutch startup WeTransfer just raised $25 million to expand into the US
The Amsterdam-based company operates a cloud-based service that allows users to send large files just as securely and easily as email attachments.
Today, WeTransfer has 25 million active users who send 70 million files every month. Founder and CEO Bas Beerens said in a statement that the company has been profitable since 2013 and employs around 30 members of staff. It was set up in 2009, entirely on its own, and this is the first ever funding round for WeTransfer.
The company describes the new funding as a "milestone" - indeed, it's the first time it's ever received investment of any kind. "The successful completion of fundraising is a new milestone for WeTransfer, providing the company with an injection of both capital and expertise," the company says. "WeTransfer will use the investment to continue to innovate and develop its product and build the brand further across the US, Europe and beyond."
CEO and founder Bas Beerens adds in a statement: "Funding isn't something we proactively looked for, but having been approached by a significant number of investors from across the globe in the past two years, we realised there were bigger opportunities to grow as a service and a brand."
WeTransfer is an obvious competitor to other file-sharing platforms such as DropBox, Hightail, and Box. As TechCrunch mentions, though, it's slightly different to these - its interface is a more low-key, arty version that offers bold, creative wallpapers, no banner ads, and you don't have to register to sign up.
The company actually "pays the bills," it explains, through the wallpapers. Most of these are advertisements. "Next to all the creative work we like to feature, WeTransfer says, "we make our money with full screen ads." There's also a We Transfer Plus premium service, which offers additional features (like sending larger files, for example).
TechCrunch says some of WeTransfers advertisers are companies such as Google, Shutterstock, Vodafone, and Qatar Airlines - huge names. It also writes that some of the cash has already been used: WeTransfer sponsored an opening party at the Grammy's this year, and is even working on a TV enterprise, though the details of this are thin at the moment.
- India's GDP growth surges to 8.4% in Q3, 2023-24 growth rate pegged at robust 7.6%
- Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data
- Cabinet approves 3 semiconductor fab units, to generate 80,000 jobs
- RIL shares climb nearly 1% after announcing mega merger
- Key infra sectors' growth slows to 15-month low of 3.6% in January