Dropbox Files Confidentially for IPO
Dropbox Inc., the file-sharing private company valued at $10 billion, has filed confidentially for a U.S. initial public offering, people familiar with the matter said.
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Unlike money-losing Snap, Dropbox will come to the table with annualized sales of more than $1 billion, Chief Executive Officer Drew Houston said in an interview last year. It’s also been profitable, excluding interest, taxes, depreciation and amortization. Those benchmarks are the product of more than two years of focusing the company, expanding its product suite for businesses and reining in expenses, Houston said at the time.
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As of August, Dropbox had 500 million users, including 200,000 businesses, storing and sharing files online through its cloud service.
Previously: Dropbox Secures $600M Credit Line.
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