Dropbox Files Its First IPO With $ 1.1bn Revenue
News

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.

Tanya <span>Editor In Chief</span>
Written By
Tanya Editor In Chief

She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.

News

Best Android 9 Pie Features We All Are Waiting For

15 min read  

Google is again ready to change the lives of millions of Android users across the globe. Now, when the name of Android 9.0 isn't a secret anymore, we should talk about its features. The Mountain View company has added plenty of updates and new features to the operating system that will enhance t

News

Apple’s Templated App Guideline To Hamper Businesses Massively

4 min read  

Apple released updated guidelines following its Worldwide Developers Conference. The set of guidelines include the ban on the apps created by a commercialized template or app generation service. The move seems to be a part of Apple’s larger App Store cleanup in order to wipe out low-quality ap

News

Trusted Athlete App: ICSS Announces its New App To Test Drugs For Athlete

4 min read  

Mobile application development considerably fabricating every field by its continuous Innovative change in technology. Mobile applications contributed its contrivance in health, banking, education, business but now it's now pioneering athlete drug testing department. On 16 March 2017 ICSS(

News

Apple Music Expanding Student Subscription Plan

4 min read  

Apple Music has remained successful in making similar price strategy and succeeding them as well in the past in countries like UK, US, Germany, Australia, Denmark, Ireland, and New Zealand since 2016. With the latest initiative, the giant is expanding its market by making Apple Music available to al