FRANKFURT (Reuters) -DeepL, a Germany-based developer of artificial intelligence-based translation, is considering an initial public offering in the United States, Bloomberg News reported on Thursday
Germany's DeepL is considering going public in US, Bloomberg reports
DeepL's Potential U.S. IPO
FRANKFURT (Reuters) -DeepL, a Germany-based developer of artificial intelligence-based translation, is considering an initial public offering in the United States, Bloomberg News reported on Thursday citing people familiar with the matter.
Company Valuation and Growth Opportunities
The Cologne-based startup company did not immediately respond to a request for comment.
Market Strategy and Customer Base
DeepL has held preliminary discussions with potential advisers on a U.S. listing as soon as next year, Bloomberg said, also citing some of its sources as saying that it could seek a valuation of as much as $5 billion.
The startup company said in May last year that it was valued at $2 billion in a funding round led by investor Index Ventures.
DeepL Chief Revenue Officer David Parry-Jones told Reuters in May that the company was seeking to make inroads into the U.S. market because of sizeable growth opportunities and that a it had opened an office there in 2024.
He added at the time that the company has more than 200,000 business customers and millions of paying and non-paying daily users.
(Reporting by Ludwig Burger, Alexander Huebner and Hakan Ersen, Editing by Friederike Heine)
