Dropbox confidentially files for IPO: Report
Dropbox has confidentially filed for IPO, after years of rumors about its public debut, according to Bloomberg. It's set to be one of the most watched tech IPOs of the year.
The file sharing company wants to list on a public exchange in the first half of this year, the report said. Dropbox has enlisted Goldman Sachs and JP Morgan Chase to lead the offering, and is looking to add additional banks.
The last private valuation for Dropbox was $10 billion in a 2014 funding round. Some critics called it too high compared to what the value would be on public markets.
Dropbox isn't confirming the filing of the IPO paperwork, which doesn't require the company to go public by any certain date.
Dropbox claims 500 million people are on its software service that allows consumer and enterprise users to store and share files with one another. Not much is known about Dropbox's financials, other than it hit a $1 billion annual run rate in January 2017. If it does indeed go public, we'll learn the ins and outs of Dropbox soon.
Previous and related coverage
Dropbox Paper takes on Google's G Suite with new organisational features
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Dropbox rolls out new calendar, mobile features for Paper
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