The Dropbox IPO filing is here

24 Февраля, 2018, 00:38 | Author: Misty Newman
  • Dropbox

The beloved, easy-to-use (if somewhat stagnant) file syncing service had documents unsealed at the SEC today revealing plans for an initial public offering, where Dropbox is looking to raise up to $500 million. Dropbox is planning to use the IPO funding to build even more third-party partnerships and integration, while also working on creating more paying customers out of its huge user base.

Dropbox, founded in 2007, posted revenue of about $1.1 billion previous year, up 31% from $844.8 million in 2016. Clark's stock vests over five years.

It plans to have its common stock listed on Nasdaq under the ticker symbol "DBX".

According to the public filing, Dropbox revenue in 2017 rose 31% to $1.1 billion and its net loss of $111.7 million shrank from 2016 when it recorded a net loss of $210.1 million.

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It's official - Dropbox has finally filed for an initial public offering (IPO) after years of rumors and speculation. But the losses are shrinking each year as revenue climbs. The company said it generates average revenue of $111.91 per paying user.

The company's biggest challenge is explaining to Wall Street what differentiates Dropbox from its many competitors, Box Chief Executive Aaron Levie told Reuters on Friday. Notably, Dropbox's founder, Drew Houston remembers an intense interaction with Steve Jobs when he called Dropbox "a feature, not a product". Dropbox's annual revenue has grown significantly year-over-year, while the company has also managed to slash its losses from almost $326 million in 2015.

Other unicorns - a term for start-ups that have been valued at more than $1 billion in the past by private investors - that may sell shares to the public in the future include Airbnb, Lyft and Uber.

The company will sell shares in a three-class structure - the same one used by Snap, which had its IPO past year.

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