Dropbox files for IPO of up to $500 million
The San Francisco-based company competes with much larger technology firmsData-sharing business Dropbox on Friday filed for an initial public offering of up to $500 million with the US Securities and Exchange Commission. The company’s net loss narrowed to $111.7 million in 2017 from $210.2 million in 2016. Dropbox, which has 11 million paying users across 180 countries, said that about half of its 2017 revenue came from customers outside the United States. Goldman Sachs & Co, JPMorgan, and Deutsche Bank Securities are some of the leading underwriters for the IPO. The amount of money a company says it plans to raise in its first IPO filing is usually a temporary placeholder.
Source: The Express Tribune February 24, 2018 08:26 UTC
