Farfetch may float its New York-based IPO this year

The London-based online retailer Farfetch is looking at floating its New-York based initial public offering (IPO) at a valuation of 5 billion dollars, reports CNBC, citing sources familiar with the development. Farfetch, founded in London in 2008 by Portuguese entrepreneur José Neves, has offices in 11 cities, including London, Tokyo and Los Angeles. Neves had told Reuters in 2016 that the “next financial milestone” for the company would be to float an IPO.