Dropbox files for U.S. public stock offering
COURTESY DROPBOX
The lobby of Dropbox’s offices in San Francisco. Dropbox, a file-sharing private company valued at $10 billion, has filed publicly for a U.S. initial public offering.
Dropbox Inc., the file-sharing private company valued at $10 billion, has filed publicly for a U.S. initial public offering.
The company filed with an offering size of $500 million, which is a placeholder and likely to change.
Dropbox posted a net loss of $112 million on $1.1 billion in revenue last year, according to the filing today. In 2016, the company saw a net loss $210 million on $845 million in revenue.
Dropbox, which was valued at $10 billion in its 2014 funding round, could be one of the biggest U.S. enterprise technology companies to list domestically in recent years. First Data Corp. went public at a market value of about $14 billion in 2015 — the biggest such IPO in the past five years.
Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG, Allen & Co. are leading the offering. The company plans to list on Nasdaq Global Select Market under the symbol DBX.
