Dropbox, the cloud-sharing company, is about to file for an initial public offering later this year. Dropbox’s public market debut could be the largest US tech IPO since Snap launched earlier this year. Three years ago, Dropbox was valued at $10 billion in a private fundraising round.
According to sources, the data-sharing business will negotiate with investment banks in the nearest future.
Dropbox was founded in 2007 by Massachusetts Institute of Technology graduates Drew Houston and Arash Ferdowsi. Sequoia Capital, T. Rowe Price and Greylock Partners are investors.
Today, Dropbox has over 500 million users. In total, the company raised $1.7 billion in 7 rounds from 26 investors. According to the company’s chief executive Drew Houston, Dropbox made more than $1 billion in annual revenue.
Box Inc., Dropbox’s major rival, was valued at $1.67 billion in its IPO in 2015.
