Published: Sun, February 25, 2018
Health Care | By Alberto Manning

The Dropbox IPO filing is here

The Dropbox IPO filing is here

Depends on your point of comparison.

The company made public its filing on Friday, but noted that it submitted documents a year ago in a confidential filing with the SEC under rules for "emerging" growth companies. All that time, the company has remained private, but that's about to change.

"Our market opportunity has grown as we've expanded from keeping files in sync to keeping teams in sync", the company said in the filing. It says it plans to list on the Nasdaq under the ticker "DBX".

Because its file containers can be opened by non-Dropbox customers, the service has been used at least once by an estimated 1 billion people worldwide to store and share files.

Dropbox has raised a total of $1.7 billion in equity and debt financing and is backed by venture capital firms that include Greylock Partners, Sequoia Capital, Accel, Institutional Venture Partners and bankers that include JP Morgan and Goldman Sachs. The company's core corporate software product Dropbox Business now has 300,000 users, the filing notes.

Dropbox, which was founded in 2007, has been the subject of IPO rumors since at least 2013.

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Dropbox said it plans to raise $500 million, but it didn't provide a price range, so it's not possible to know the potential valuation.

Photo Drew Houston, chief executive of Dropbox, which was most recently valued at about $10 billion by private-market investors.

Dropbox will also be the first IPO for Y Combinator, the accelerator program that has become a hallmark of Silicon Valley promise. There are over 500 million registered users, with 100 million just from 2017 alone. Therefore, the company didn't need to hire a lot of sales and marketing staff. The company said that in 2016, it was able to shrink it's cost of revenue by $35.1 million as part of its AWS migration, which it refers to as "Infrastructure Optimization".

The company saw losses of $111.7 million previous year - an improvement from a loss of $210.2 million it showed in 2016, and of $325.9 million in 2015.

Meanwhile, Dropbox's net loss was $210.2 million past year which decreased and now its $111.7 million in 2017, so according to this chart company is doing a pretty good job but they chose to take their company towards a higher level.

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