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Auto1 IPO soars 45% and generates Germany’s newest Tech Billionaires

Updated: Apr 30

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.

What Is This About?

Auto1 Group's IPO on the Frankfurt Stock Exchange soared 45% on its first day of trading, creating Germany's newest tech billionaires. The online used car platform's public debut marked one of the largest European tech IPOs and validated the digital transformation of automotive retail.

  • This blog post first appeared first on old medium publication (https://medium.

  • This article was originally published on February 5th, 2021 on the blog of Startuprad.

  • The IPO of Auto1 was long anticipated.

  • Auto1 makes money as a platform for used cars.

  • Japanese Softbank invested in January 2018, at a valuation of 2.


via Pixabay

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Auto1 IPO soars 45% and generates Germany’s newest Tech Billionaires Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.


This article was originally published on February 5th, 2021 on the blog of Startuprad.io


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The IPO

The IPO of Auto1 was long anticipated. We talked about it frequently in our news. Now it took place and it was a smashing success. The first day of trading saw the share price going from 38€ up to 55 €, which is a 45% share price appreciation and not bad for the first day of trading. Auto1 raised with this IPO 1.8 bn € at Frankfurt Stock Exchange, valuing the total company at approx. 12 bn €. This is quite a valuation for a company, just eight years old.


Auto1

Auto1 makes money as a platform for used cars. They connect dealers and consumers in Europe and allows them to buy and sell used cars on the internet. Their brand name in Germany is wirkaufendeinauto.de (we buy your car), generating 3.5 bn € in revenue in 2019.


Softbank

Japanese Softbank invested in January 2018, at a valuation of 2.9 bn € and took a ~20% stake, paying 460 m € (according to FT). This 19.99% stake is currently held in the SVF Midgard (Cayman) Ltd, according to the IPO prospectus. At the 12 bn € valuation, this would mean the value of the investment is now worth 2.4 bn Euros (2.87 bn US$), up more than 620% from three years before.


Germany’s Newly Minted Billionaires

This led us to the two founders Hakan Koç, who holds 15.69%, and his co-founder Christian Bertermann holding 15.69% as well, at the time of the IPO. Given the 12 bn valuation (that makes it easier to calculate) their stake is worth approx. 1,88 bn € (2.25 bn US$), turning them overnight into billionaires. According to the prospectus Mr. Koc will hold 12.41% (~ 1,49 bn €) and Mr. Bertermann 12.62% (~ 1,51 bn €) after the IPO. Congratulations gentleman, well done.

It remains our hope that both successful entrepreneurs keep investing in startups and pass along some of their skills that sever them so well.


(Update) Why this matters

We have gotten some feedback on this blog post — thank you by the way. We realized, we missed one important aspect, so we amend this post just a little bit. This is the first significant IPO in Germany, by a startup, which was lead by its founders and generated significant wealth for them.

We had IPOs before e.g. Delivery Hero, but the Delivery Hero CEO Mr. Österberg only owned 0.66% (1.003.077) and options (846.600) of the company at the time the prospectus for the IPO was written in 2017. Another case is Team Viewer, which IPOed in Frankfurt as well. Team Viewer was owned by PE fund Permira (via TigerLuxOne in Luxembourg), so it also did not generate entrepreneur wealth.

This is an important point since this serves as an incentive to aspiring entrepreneurs, it shows investors a potential exit route and we are sure both founders will be investing some of the generated wealth in the startup scene.

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What Happened with the Auto1 IPO?

Auto1 Group's long-anticipated IPO was a smashing success, with shares soaring 45% on listing day in February 2021. The Berlin-based used car platform connects dealers and consumers across Europe. The IPO created Germany's newest tech billionaires: co-founders Hakan Koç (15.69% stake) and Christian Bertermann (15.69% stake). Japanese SoftBank had invested €460M in January 2018 at a €2.9 billion valuation for a ~20% stake.

Introduction

Originally published February 5th, 2021, this article covers the Auto1 Group IPO — a landmark event for the German tech ecosystem. The IPO had been long anticipated and covered frequently in Startuprad.io's news updates. When it finally took place, it exceeded expectations with a 45% first-day gain. Auto1 operates as a used car platform connecting dealers and consumers across Europe. SoftBank had invested €460 million in January 2018 at a €2.9 billion valuation for approximately 20% of the company. The listing made co-founders Hakan Koç and Christian Bertermann (each holding 15.69%) Germany's newest tech billionaires. The post was updated after reader feedback to add context about why this IPO matters compared to previous German tech listings like Delivery Hero.

Auto1 Group's February 2021 IPO marked a watershed moment for the German tech ecosystem. The 45% first-day surge validated both the used car platform business model and Berlin's ability to produce major tech IPOs. SoftBank's 2018 investment of €460M at €2.9B valuation saw significant returns. Co-founders Hakan Koç and Christian Bertermann, each holding 15.69%, became billionaires. The article was updated after feedback to contextualize the IPO alongside previous German tech listings like Delivery Hero, highlighting the growing maturity of Germany's public market tech pipeline.

  • Auto1 IPO soared 45% on its first day of trading in February 2021 — a smashing success for the long-anticipated listing.

  • Co-founders Hakan Koç (15.69%) and Christian Bertermann (15.69%) became Germany's newest tech billionaires through the listing.

  • SoftBank invested €460 million in January 2018 at a €2.9 billion valuation for approximately 20% of Auto1.

  • Auto1 connects used car dealers and consumers across Europe as a marketplace platform.

  • The post was updated after reader feedback to add context comparing Auto1's IPO to previous German tech listings like Delivery Hero.

Entities Referenced in This Episode

People

  • Hakan Koç — Auto1 co-founder, 15.69% stake, became tech billionaire

  • Christian Bertermann — Auto1 co-founder, 15.69% stake, became tech billionaire

Companies & Investors

  • Auto1 Group — Berlin-based used car platform, IPO Feb 2021 (+45% day 1)

  • SoftBank — Invested €460M at €2.9B valuation (Jan 2018), ~20% stake

  • Delivery Hero — Referenced as previous German tech IPO comparison

Topics

  • Tech IPO, used car marketplace, tech billionaires, SoftBank investment, German public listings, first-day trading performance

Relationship Map

  • Hakan Koç + Christian Bertermann → co-founded → Auto1 Group (each 15.69%)

  • SoftBank → invested → €460M at €2.9B valuation (~20% stake, Jan 2018)

  • Auto1 → IPO → Feb 2021, +45% first day

  • IPO → created → Germany's newest tech billionaires (both founders)

Quote Highlights

  • Auto1 IPO soared 45% on its first day of trading in February 2021 — a smashing success for the long-anticipated listing.

  • Co-founders Hakan Koç and Christian Bertermann became Germany's newest tech billionaires through the listing.

  • SoftBank invested 460 million euros in January 2018 at a 2.9 billion euro valuation for approximately 20% of Auto1.

  • Auto1 connects used car dealers and consumers across Europe as a marketplace platform.

Related Episodes on Startuprad.io

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How much did Auto1 shares rise on IPO day?

Auto1 Group shares soared 45% on the first day of trading in February 2021, making it one of the most successful German tech IPOs. The listing had been long anticipated by the startup community.

Who are the Auto1 founders?

Auto1 was co-founded by Hakan Koç and Christian Bertermann, each holding 15.69% of the company at IPO. The listing made both of them Germany's newest tech billionaires.

How much did SoftBank invest in Auto1?

Japanese SoftBank invested €460 million in Auto1 in January 2018, taking approximately 20% of the company at a €2.9 billion valuation. The investment was part of SoftBank's broader strategy of backing marketplace platforms globally.

What does Auto1 do?

Auto1 Group operates as a used car platform connecting dealers and consumers across Europe. The marketplace allows buying and selling of used vehicles, creating one of Europe's largest digital automotive platforms.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

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