Dropbox Files For IPO


Perhaps even more notably, the provider claims to be profitable excluding interest, taxes, depreciation, and amortization, which is something of a rarity among the tech firms that have filed to go public in recent quarters.

The file-sharing company Dropbox has confidentially filed for an initial public offering, according to Bloomberg. These investors are set for big pay-out should the public flotation of Dropbox go through.

In July 2017, Dropbox featured as No. 2 on the Forbes Cloud 100 list of top private cloud companies. Goldman Sachs and JPMorgan Chase & Co are said to be leading this potential listing.

Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first half of 2018, the Bloomberg report said.

Dropbox was not immediately available for comment.

Earlier this month the Swedish streaming music service Spotify also reported to be making a "confidential" or "secret" IPO.

If the San Francisco-based online file-storage company- last valued by private-market investors at about $10 billion - follows through on going public, it will become one of the highest-profile technology companies of late to seek a stock-market listing.

Dropbox claims 500 million people are on its software service that allows consumer and enterprise users to store and share files with one another. According to CEO Dennis Woodside, the company has spent hundreds of millions of dollars to build data centres, allowing it to cut costs while improving file transfer speeds. Goldman Sachs advised the company on earlier funding rounds and extended the company credit, while JPMorgan led a $600 million (roughly Rs. 3,800 crores) credit line to Dropbox previous year, the people said.

Goldman Sachs had been helping the company prepare IPO documents.