Published: Fri, January 12, 2018
Sci-tech | By Carrie Guzman

Dropbox IPO Filing Reportedly Made Confidentially

Dropbox IPO Filing Reportedly Made Confidentially

Data-sharing business Dropbox has filed confidentially for a United States initial public offering, a source close to the matter said on Thursday.

The cloud-based file sharing company has been valued at $10 billion a few years ago and has been steadily workin towards becoming a pubic company. Goldman Sachs and JPMorgan Chase & Co are said to be leading this potential listing. The company is taking a much more conventional approach to the IPO than Spotify Ltd., which is also said to have quietly filed for a public offering recently.

Snapchat now is public and continues to lose money, Snap Inc.'s IPO was still a pretty big deal.

Dropbox's financials results are not publicly known, but the company said in January 2017 that it was on track to generate $1 billion in revenue on an annualized run rate. We also send freebies and lots of other goodies exclusively to our email subscribers.

The last private valuation for Dropbox was $10 billion in a 2014 funding round.

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Founded in 2007 by Arash Ferdowsi and Drew Houston, Dropbox simplifies the way people work together.

The company is expected to formally submit its IPO filing before the end of the second quarter, according to Bloomberg. With 150,000 businesses on Dropbox Business, we're transforming everyday workflows and entire industries.

Since then, Houston and his management team have focused on containing costs while building out features like collaboration services and shared document creation. The company provides cloud storage, file synchronization, personal cloud, and client software.

Box trades at about six times its sales for the last 12 months, according to data from Standard & Poor's Global Market Intelligence, giving it a market capitalization of about $3 billion.

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