Dropbox finally lets investors share its performance stats

Last week finally saw Dropbox, the San Francisco-based file sharing software developer, submit its IPO prospectus with the SEC. The company founded eleven years ago has been subject to speculation that it would IPO since 2011, and has also been linked as a potential target for Apple. In its last round of funding, back in 2014, the company was reported to be valued at USD 10bn.

According to the documents filed, Dropbox is initially looking to raise USD 500m, though this may change, and it will be potentially the largest tech IPO so far this year. Lessons appear to have been learnt by Dropbox’s founders Drew Houston and Arash Ferdowsi after the IPO of Snap Chat in 2017, where investors believed that too much control was retained by Snap’s chief executive, Evan Speigel, who retained 90% of the voting rights. Dropbox sits 14th on the global list of highest-value unicorns, with its 2014 valuation of USD 10bn, 2017 revenues of over USD 1bn and losses of USD 110m. Its IPO journey will undoubtedly be of interest to other unicorns.