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.
The Cologne-based startup company did not immediately respond to a request for comment.
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)
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