- Dropbox has filed IPO paperwork with the SEC confidentially, according to a Bloomberg report.
- The company plans to list shares in the first half of 2018.
- Its last known valuation of $10 billion was during a 2014 funding round.
Dropbox, the cloud computing storage company valued at $10 billion, has confidentially filed the paperwork for an IPO, according to a
The IPO is expected in the first half of 2018, Bloomberg reported, marking the first high-profile tech listing of the year, and coming on the heels of
San Francisco-based Dropbox had been expected to list shares in an offering this year, after news surfaced last year that it
Dropbox says that more than 500 million people use its online software service, which allows consumer and business users to save documents in the cloud and access them from any device. Dropbox for Business, the premium product aimed at business users and considered its most important business going forward, has 200,000 customers the company says on its website.
Dropbox was not immediately available for comment.
"Cash is oxygen"
Dropbox's financials results are not publicly known, but the company said in January 2017 that it was on track to
"Cash is oxygen," Houston said in an onstage interview at the time. "Even just being a dollar cash flow positive is a really critical threshold because it lets you control your destiny."
The company's last reported valuation of $10 billion came during a venture capital funding round in 2014.
If the company were to IPO at that valuation with $1 billion revenue, it would fetch a 10x revenue multiple. That's richer than the 8x multiple that
Dropbox has been steadily building out its senior management team as it moves towards its market debut, bringing on experienced hands like
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