Dropbox Files Its First IPO With $ 1.1bn Revenue
Mobile App

Dropbox Ready To Go Public And Seeking $500m Fundraise

The file hosting company has originally filed the IPO listing documents in January 2018.

Dropbox Ready To Go Public And Seeking $500m Fundraise

Dropbox, the popular file hosting company has finally announced its IPO filing publically. However, we knew about it already, but the company has kept its lips closed about the step till now. In January, there were reports that Dropbox confidentially filed for the US IPO. Since it launches back in 2017, Dropbox has raised $600m funding and has also valued $10 billion during a fundraising round in 2014.

As the file-sharing company has publicly revealed about its IPO offering so it is most likely to be held soon somewhere by the end of the March. According to the IPO filing details, the company is targeting $500 million of fundraising. However, the figure is just a placeholder and could be changed during the actual filing. The documents also state that Dropbox has generated $1.1bn  of revenue in 2017, which is up by 30 percent compared to $845 million in 2016. In Spite of increased revenue, Dropbox is still facing the loss of $112m which the company was able to took down from $240m back in 2016.

The tech company claimed that it has 500m users out of which 11m are enjoying its paid services. According to Dropbox almost 100m of its total users have signed up for the service in 2017. The company also shared that it receives an average $112 per paid users.

“The market for content collaboration platforms is competitive and rapidly changing. Certain features of our platform compete in the cloud storage market with products offered by Amazon, Apple, Google, and Microsoft, and in the content collaboration market with products offered by Atlassian, Google, and Microsoft. We compete with Box on a more limited basis in the cloud storage market for deployments by large enterprises.” noted down in the prospectus about the company’s competitive landscape.

However, Box will be the most comparable rival of Dropbox, which went public in 2015. The cloud storage rival ended up with a valuation $1.7bn in the IPO listing, which is way less than the company’s previous fundraising evaluation ($2.4bn). The Dropbox floating will be very important for Spotify and Lyft which are also gearing up for the IPO listing. Both the companies will watch the IPO listing very closely as it is likely to be the biggest one since Snapchat.

MAD Team
Written By

MobileAppDaily host a team of experienced technical writers, industry wizards, and app experts who have an exact knack of content that caters to the needs of the mobile app targeted audience. We strive to bring you the best of tech!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Mobile App

In-Traffic: Samsung's App To Drive Without Distraction

MAD Team 4 min read  

Tech giant Samsung is coming up with application to access phone while behind the wheel safely. It happens most of the times when you are driving your way to your office, home or anywhere your phone buzzes. Using the mobile while driving is neither advice nor legally allowed for the safety purpose.

Mobile App

How Two Young Entrepreneurs Build The Most Powerful Education Tool After Meeting at a Gathering

MAD Team 4 min read  

Two of the youngest entrepreneurs under 30, Liam Don and Sam Chaudhary inspired to create a powerful tool that can reinvent education systems around the world. Considering the powerful role education plays in watering the minds of tomorrow, the young entrepreneurs created a software design ClassDojo

Mobile App

‘Tinder-Style’ PropTech App Badi Raises £24M

MAD Team 2 min read  

Gone are the days when individuals looking for romance took to classified pages of a newspaper, sharing adverts alongside landlords looking for probable tenants.Badi, a startup that mingles house hunting with the Tinder-style swipe mechanism has escalated an additional £24 million($30m) in

Mobile App

Aptoide, A Play Store Competitor, Rebels Against Google Hiding Its App

MAD Team 4 min read  

Google has been accused by Aptoide for not letting other Play Store alternatives to be visible on its Store. Also, since Android is not completely controlled by Google, Google does not have the authority to force any ban on app even though some guidelines are set that are required to be followed by