Online furniture firm Made.com announces plans for a £1bn London float
Made.com is expected to announce plans to float on the stock market in London as soon as today.
There have been rumours the trendy online furniture seller was eyeing the move since February but until now it has resisted pressing the button.
The listing will allow Made to raise money and the business is expected to be valued at £1billion.
London listing: Big paydays can be expected for Made.com co-founders Brent Hoberman (left), Ning Li (right)
Big paydays can be expected for co-founders Brent Hoberman, Ning Li, Chloe Macintosh and Julien Callede who started the company back in 2010.
Li is still a company director but none of the other founders have an active in the company role any more.
Payday: Made.com co-founder Chloe Macintosh
Made is run by chief executive Philippe Chainieux and chairman Susanne Given.
Hoberman – a serial investor who counts David Cameron and George Osborne among his friends – is understood to be the largest individual shareholder.
Made will be the second company he has brought to market after he helped float online travel firm Lastminute in 2000 at the height of the dotcom boom.
Other existing investors include Amadeus, venture capital group Partech and Archimedia, the holding firm of Seattle Coffee Company founder John Hunt.
Staff members will also benefit from the float after Made handed share options worth £10,000 to every member of its 650 strong workforce in December.
Made’s most recent accounts showed a 22 per cent increase in sales to £212million in 2019.