Rocket Internet-backed online furniture retailer Westwing aims to raise $139m in an initial public offering in Frankfurt.
Westwing, a Germany-based online furniture store backed by e-commerce group Rocket Internet, plans to raise up to €120m ($139m) in an initial public offering on the Frankfurt Stock Exchange, Reuters reported yesterday.
Founded in 2011, Westwing operates a shopping club that offers daily flash sales with discounts of up to 70% on furniture and home accessories. It claims a 28 million-strong customer base spanning 11 countries.
The company will use the IPO proceeds to enhance its technology and marketing activities…
