Sunday, 23 September, 2018

Dropbox Files Confidentially for US IPO

Reuters Reuters
Frank Williams | 12 January, 2018, 06:25

File-storage company Dropbox confidentially filed for a USA initial public offering Thursday, people familiar with the matter said.

The IPO will be led by Goldman Sachs Group and JPMorgan Chase, Bloomberg reported earlier, citing people familiar with the matter. The company is hoping to file in the first half of the year.

Snapchat now is public and continues to lose money, Snap Inc.'s IPO was still a pretty big deal. Chief Executive Officer Drew Houston (pictured) previous year revealed that his company has reached the $1 billion annual run rate mark. It also allows Dropbox to wait until it's truly ready before listing its shares, as opposed to the regular process, where the clock starts once the S-1 filing hits the internet. Dropbox is a file hosting service operated by American company Dropbox, Inc.

San Francisco-based Dropbox had been expected to list shares in an offering this year, after news surfaced last year that it had retained investment bank Goldman Sachs.

Norwegian PM says Europe on alert about Russian interference
Norway shares a border with Russia and has been a critical North Atlantic Treaty Organisation partner against Russian aggression. It should have been a problem solved many years ago when it was much less unsafe .

But Dropbox's road has also been bumpy. With 150,000 businesses on Dropbox Business, we're transforming everyday workflows and entire industries. However, this net worth has been criticized by some investors as being overvalued.

Since then, Houston and his management team have focused on containing costs while building out features like collaboration services and shared document creation.

Dropbox could face potential volatility too. Its closest point of comparison is Box, another Silicon Valley online data storage provider, but one that focuses more on big corporate clients like General Electric and Procter & Gamble. Box has since rebounded to a market cap of about $3 billion. It reported having 57 million users as of the quarter that ended October 31, though it has lost money every year since going public three years ago.

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