German artificial intelligence startup DeepL prepares for IPO

The news agency understands that the developer of the popular translation program has already begun initial talks with potential advisors for an IPO.

The company raised $300 million in investor capital in 2024, giving it a market capitalization of $2 billion. DeepL hopes to reach a market capitalization of up to $5 billion (€4.26 billion) with the IPO.

According to the report, DeepL’s potential investors include Benchmark, IVP and Index Ventures.

Founded in 2017, the company employs more than a thousand people and competes with Google’s market-leading translation service, among others.