Dropbox IPO Filing Reportedly Made Confidentially

Dropbox IPO Filing Reportedly Made Confidentially

Dropbox IPO Filing Reportedly Made Confidentially

According to report from Bloomberg, unicorn and file sharing company Dropbox is set to go public in the first of this year after many years of rumors.

Dropbox is reportedly aiming to list in the first half of this year.

The file-storage company Dropbox has filed papers indicating its attention public, according to business news site Bloomberg. The listing is created to test Dropbox's most recent valuation, which was set at $10 billion. Right now, it's reported that Dropbox is bringing in $1 billion per year in revenue, making it likely that its IPO could prove to be even more successful, as noted by Bloomberg.

In July 2017, Dropbox featured as No. 2 on the Forbes Cloud 100 list of top private cloud companies. The company is valued by private investors at Dollars 10 billion, with Goldman Sachs and JPMorgan Chase set to lead the listing process. Other high-profile companies that could follow Dropbox in upcoming months include Airbnb, WeWork and Uber, as well as companies without quite the same buzz but with the financials to go public, such as Qualtrics. At the time, the company said it was the fastest software-as-a-service company to reach that milestone. That's made it easier for Dropbox to cut costs while speeding file transfers, Chief Operating Officer Dennis Woodside said in an interview past year. Goldman Sachs advised the company on earlier funding rounds and extended the company credit, while JPMorgan led a $600 million (roughly Rs. 3,800 crores) credit line to Dropbox a year ago, the people said. JPMorgan led a credit line extended to Dropbox, along with Goldman Sachs, Bank of America, Deutsche Bank, Macquarie Group and Royal Bank of Canada, people familiar with the matter said last March.

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