Dropbox Files for IPO
Dropbox has filed documents in advance of a planned initial public offering.
Founded in 2007, the cloud storage company provides what it describes as a unified home for content and information sharing and collaboration. Observing that today the economy runs on knowledge, the company stated in its filing that it now serves more than 500 million registered users across 180 countries, and that it generates more than 90% of revenue from users who purchase a subscription through its application or website.
The company says it plans to raise $500 million in the offering and to be listed on the Nasdaq exchange under the symbol DBX. Industry watchers speculate that the IPO could occur less than a month from now.
As content and tools become increasingly fragmented, key components of Dropbox’s growth strategy will include increasing adoption and paid conversion, upgrading paying users, applying insights to build new product experiences, and expanding its ecosystem. The company also listed a variety of potential risk factors including the potential impact of the FCC’s repeal the “net neutrality” rules and other market and global issues.
To access Dropbox’s preliminary prospectus, go here.