image credit : Home24

Home24, One of Europe’s largest online destination for home furniture and notably backed by Berlin based major internet business incubator Rocket Internet has now gone public on the Frankfurt Stock Exchange, Initially priced at 23 Euros a share and rising to a huge price of 31 Euros a share to a huge market cap of over $900 million amdist a huge demand for shares of the company.

Home24 prior to this IPO raised a total of €155.9M for expansion of its online store which currently sells more than 150,000 products from over 800 retailers in several European markets and currently employs more than 1,000 people for its e-commerce and home delivery spaces.

Home24 recorded huge revenues of €276 million and will use the funds generated from the public offering to expand its operations and put more resources into winning more customers and generating bigger revenues for the company.

Home24 currently has operations in 7 European countries consisting of France, Germany, the Netherlands, Austria, Switzerland, Italy and Belgium and has recently opened Brick-and-Mortar stores for the selling of its products in different showrooms to its consumers.

This is another huge addition to the huge wave of IPOs this year which have seen so many technology companies go public amidst huge investor demand and a very good and stable stock market.

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