Chrono24 is apparently planning an IPO
According to a media report, the luxury watch marketplace is planning to go public in order to finance its expansion.
The company Chrono24 is apparently planning to go public next year. "A company of our size should always keep the option of going public open," founder Tim Stracke confirmed his plans to the Handelsblatt. This step could help the company to expand further. Japan and China would be potential markets.
Stracke, Michael Krkoska and Dirk Schwartz founded the watch marketplace in 2003 and the company, which is headquartered in Karlsruhe, now has 300 employees. According to the start-up, more than 20,000 dealers and private sellers are active on the platform, offering around 500,000 watches. The platform claims to have around 20 million monthly users from 120 different countries. Watch fans can try on their favorite watches on their wrist using virtual reality and track their watch collection using the "Watch Collection" function.
The company raised around 100 million euros in a financing round just last August. US investor General Atlantic, Aglaé Ventures and an investment company from the Arnault family invested.
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