Rumors have been circulating over the course of the past month or so that Dropbox, a San-Francisco-based data-sharing company, was going to IPO in the first half of 2018, and we finally have confirmation of this.
Dropbox, founded by Drew Houston and Arash Ferdowsi, has had a busy couple of years, from being valued at $10 billion when it last raised money three years ago, to selecting Don Blair, the former Nike CFO, to its board of directors on December 19.
But nothing is more exciting than the news that was announced on Thursday, January 11.
What Happened?
Today, it has been disclosed, according to a Bloomberg report, that Dropbox has officially, and confidentially, filed IPO paperwork. This is pretty significant news as this is 2018’s first high-profile tech listing. I know what you’re thinking…but what about Uber Technologies? That San-Francisco-based company won’t go public until two years from now.
DropBox is more than just a data-sharing company; it offers a one-of-a-kind online software service that allows users around the world to save documents in the cloud and then access them from any electronic device.
What Does the Future Entail?
It will be interesting to see if DropBox can maintain its current track record – last year the company said that it was on route to produce $1B in revenue after it goes public – or if it will flop just like Snap, Inc. (NYSE:SNAP) did after going public.
However, I don’t think that will be the case considering DropBox reportedly has over 500 million people worldwide using its online software service. Plus, the senior management team is quite extensive with Dennis Woodside as COO, who is a former executive for Google (NASDAQ:GOOGL), and Todd Jackson as the company’s head of product. With a team like this, the world could be in the company’s hands.
Featured Image: twitter
