Dropbox, cloud storage company and tech unicorn, files for IPO

Drew Houston founder and chief executive officer of Dropbox which filed for an IPO Friday is seen at a 2016 business conferen

The San Francisco company claimed 500 million users in 180 countries and $1 billion in annual revenues in documents filed with the Securities and Exchange Commission.

Dropbox has plenty going for it with investors.

Dropbox woos users with a free version of its online file-storing service, then entices with premium features to upgrade to paid subscriptions.

Dropbox, which was valued at $10 billion in its 2014 funding round, could be one of the biggest US corporate software companies to list domestically in recent years. It will also be interesting to see how Dropbox fares on Wall Street compared to Snap's disappointing performance over the a year ago.

Dropbox has previously had an estimated value of $10 billion.

The big question is whether the company will achieve the $10 billion valuation it raised in the private markets.

Dropbox, which was founded in 2007, has been the subject of IPO rumors since at least 2013. However, as CNBC reported last month, mutual funds have most recently valued the company at between about $6.6 billion and $8.5 billion in SEC filings. Several other high-flying Silicon Valley companies - from Uber to Airbnb - are no doubt watching closely how Dropbox performs as they mull when to time their own public offerings. Dropbox has demonstrated impressive growth since 2015, roughly doubling the number of paying users and revenue.

The documents showed that CEO and co-founder Drew Houston has 24.4 percent of voting power in the company, and Sequoia Capital has 24.8 percent.

In 2017, the average revenue per paying user was $111.91.

The company is not yet profitable, having lost almost $112 million a year ago.

Exact pricing on the shares will arrive in the upcoming weeks from Goldman Sachs and JPMorgan Chase, who are leading this IPO.

Related News:

  • Turkey uses home-made arms in Afrin operation - government source

    Turkey uses home-made arms in Afrin operation - government source

    President Recep Tayyip Erdoğan warned that the forces will face "serious consequences" and they will be regarded as legitimate targets.
    South Africa's anti-graft watchdog says minister misled parliament

    South Africa's anti-graft watchdog says minister misled parliament

    Financial markets roared their approval when Ramaphosa of the ruling African National Congress (ANC) was sworn in last week. That is barely in line with population growth and far short of the 3% expansion for 2018 Mr.
    Kylie Jenner tweet sends Snapchat share price tumbling

    Kylie Jenner tweet sends Snapchat share price tumbling

    As reported by CNBC based on last Friday's close, the Citi analysts' new price target of $14 would mean at least another 30% drop. The thing is, the way Kylie Jenner's opinion of the latest changes on Snapchat is being portrayed isn't really fair to her.
  • Dow rallies 347 points as stocks close higher for week

    Dow rallies 347 points as stocks close higher for week

    Stocks rallied on Friday as interest rates slipped further from a four-year high, pushing the major indexes higher for the week. Nordstrom's founding family is preparing an offer to take the upscale retailer private, sending shares up 6.5%.
    Allies urge Trump to not go further on gun control measures

    Allies urge Trump to not go further on gun control measures

    He said the shooting rampage "cannot be solved by gun laws alone", drawing jeering whistles from the crowd. Trump has said making schools safer will be a top priority for the administration.
    Sen. Rubio Says He Would Support Raising Age To Buy Rifles

    Sen. Rubio Says He Would Support Raising Age To Buy Rifles

    When asked what Peterson should have done, Israel said the deputy should have "went in, addressed the killer, killed the killer". High school students Mia Arrington, center, 18, of West End, and Cheyenne Springette, right, 17, of Mt.
  • Royal Bank of Scotland reports first profit in 10 years

    Royal Bank of Scotland reports first profit in 10 years

    Renaissance Technologies LLC raised its holdings in Royal Bank of Scotland Group by 80.1% in the 4th quarter. Investors are still nervous about the multi-billion pound fine the bank is expecting from the US.
    China is no threat to Aus, Turnbull says before visit to US

    China is no threat to Aus, Turnbull says before visit to US

    That military and Hollywood-tinged pow-wow was created to appeal to America's showbiz-inclined president. The prime minister will receive a ceremonial welcome when he visits the Pentagon on Thursday.

    Video Of Yearbook Of Student Accused Of Being 'Crisis Actor' Goes Viral

    A notice on the video now says, "This video has been removed for violating YouTube's policy on harassment and bullying ". In a statement , a YouTube spokesperson said , "This video should never have appeared in Trending ".
  • Klaasen and Duminy lift SA to victory

    Klaasen and Duminy lift SA to victory

    Dhoni needs 68 runs to become the third Indian after Kohli (1,983) and Rohit (1,668) to reach the 1,500-run mark in T20Is. Hindustan Times will bring you live cricket score of all three matches of India vs South Africa T20 series .
    President Trump may pull Immigration and Customs Enforcement agents from California

    President Trump may pull Immigration and Customs Enforcement agents from California

    He segued from comments about the El Salvadoran gang MS-13 into a denunciation of California, CNBC reported . Some cities in California have refused to work with ICE over Trump's crackdown on immigration.
    Get Ready to Pay More for the Galaxy S9

    Get Ready to Pay More for the Galaxy S9

    As such, this is expected to be the main surprise of the tech giant as it relates to the capacity and capability of the camera. They will both have an 8MP front-facing camera and a 12MP main shooter but the bigger device will reportedly have dual lens.


Most liked

BB&T says 'technical issue' impacting online, ATM services
A BB&T outage that left millions of customers unable to access their accounts overnight is finally starting to be resolved. BB&T says ATMs, online banking, their mobile banking app, and their automated Phone24 service all stopped working.

Winter Olympics: Second Russian athlete fails drugs test
The International Olympic Committee banned Russian Federation over "systemic" doping at Sochi 2014, which the country hosted. She actually wore a shirt flat out claiming that "I don't do doping" in a promotional video earlier this month.

Australian Deputy PM resigns amid sexual harassment claim
Mr Joyce said he had been "made indirectly aware" of the allegation and described the claim as "spurious and defamatory". That helped factionalise his party room opening the way for an internal push to dump him once a reason to do so arose.

Sensex, Nifty close high over gains in global equities
Tata Steel (+3.65%), Auro Pharma (+2.91%), Vedanta (+2.88%), Yes Bank (+2.77%) and UPL (+2.48%) were the top gainers on Nifty50. Both these indices outperformed the Sensex.

Federal investigation documents list former Cyclone player
Former Seton Hall assistant coach Tiny Morton allegedly received a $9,500 loan from ASM Sports , which is no longer in business. At the moment, that's unclear. "This could end up casting a pall over the NCAA tournament because of eligibility issues".

Vehicle strikes security barrier by White House, driver apprehended
UPDATE: No law enforcement personnel were injured during the incident involving a vehicle hitting a barrier near the White House. The US White House has been placed in lockdown after a driver rammed a vehicle into a concrete security barrier.

Pakistan thanks Turkey for support on terror watchlist
Economist Syed Nazre Hyder said the impact of Pakistan's inclusion on the watch list could be "near lethal". The global watchdog said it is yet to make a decision on the motion, the Hindustan Times reported.

Nokia 7 Plus renders reveal its design in full glory
This year's event promises more of the same, with a comparatively small number of new smartphones in relation to previous years. Nokia experimented with its design and the work they did before launching their Android Version devices is more than visible.

Somewhat Positive Media Coverage Somewhat Unlikely to Impact Tesla (TSLA) Share Price
Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Corp invested 0.03% in CarMax Inc. (NYSE:COL). The company was maintained on Wednesday, August 30 by Goldman Sachs. (NASDAQ:TSLA) on Thursday, November 2 with "Hold" rating.

Bills make huge trade, land Josh Rosen in new CBS mock draft
The Bills most notably lack depth at linebacker, and drafting a player like Roquan Smith or Tremaine Edmunds would certainly help. Even better is Brown has been often considered the top offensive tackle prospect in this draft by many.

Google Lens Search Comes To More Phones
One of those companies is Snap, which used the new features to create an immersive AR experience in its mobile app, Snapchat. Files Go is a storage manager that will help you free up storage in your device as well as manage all sorts of files easier.

Here's how you can leave a message for Billy Graham's family
I was disappointed to read The Daily Tar Heel online this week and see no mention of the Reverend Billy Graham's passing. Billy Graham chose one of his favorite Scripture verses from the Bible to be placed on his grave marker.

Advisory warns of "exceptionally cold weather" for Ireland
The Met Office website reads: "Showers or longer periods of snow will affect eastern parts of the United Kingdom during Tuesday". For the rest of the week, temperatures will remain cold but will rise above freezing for the rest of the week.

West Brom's taxi four escape police charges
A Spanish court has decided not to pursue a case against the four West Brom players accused of stealing a taxi in Barcelona . Questions are being asked about the wisdom of the struggling squad taking a three-night bonding break to Barcelona.

Nasal spray flu vaccine may be back next season
It's the only nasal spray flu vaccine on the market and is approved for people aged 2 to 49. It'll be available in the USA after the Food and Drug Administration approves the strain.