According to reports from Sky, online marketplace Fruugo are planning to launch an initial public offering (IPO) towards the end of the year.
There is no details yet on how much Fruugo are hoping to raise from the IPO but the reports suggest that it could be as much as several hundred million pounds.
The online marketplace provides a place for SMBs and retailers to sell to customers in a variety of markets around the world. Earlier in the year, Fruugo was listed as one of the fastest-growing companies in Europe by the financial times.
Fruugo have been working hard to expand and evolve their marketplace, recently they have been taking many steps in further streamlining the cross-border selling process for their merchants. As demand for ecommerce begun to rise more businesses were looking for opportunities to expand their trading opportunities. This year their plentymarkets integration began allowing thousands of merchants to expand their sales internationally, without the complexities usually associated with cross-border selling. Using the Fruugo plentymarkets integration consumers can sell products to a new consumer base of more than four billion across the globe.
In August they also launched their new Retailer Dashboard which aims to help merchants identify opportunities for growth within the Fruugo platform. For now, it’ll be sent as a static PDF via email each month, but their future ambition is to provide a more interactive version in an enhanced Retailer Portal.
