Daily Management Review

Dropbox is preparing for an IPO


Dropbox cloud storage service began to prepare for the placement of securities for the first public offering of shares (IPO) at the end of this year, reports Reuters referring to its own sources.

During the IPO, the company can become the largest American public technology company, ahead of Snapchat's owner Snap. In 2014, during raising capital, Dropbox was valued at $ 10 billion. The placement of shares will be the next key indicator of the company's value.

Sources of the publication say that representatives of the cloud service intend to begin negotiations with investment banks within the next few weeks. It is not specified which banks will be invited.

Dropbox, headquartered in San Francisco, was founded in 2007 as a free service for storing photos, music and other large files. This business was popularized by Alphabet through Google, Microsoft and Amazon.com, which began to offer this file hosting on a free basis. This year, the company is expected to accumulate more than $ 1 billion in profits.

Now the company has established the Dropbox Business division, which collects fees from companies that use the resource, depending on the number of users of the cloud service. In January, Dropbox began offering Smart Sync, which allows you to access files located in the cloud or on your hard drive from your desktop computer.

There are more than 500 million users. The total amount of investments attracted reaches $ 1.7 billion in seven rounds from 26 investors. At the beginning of the year, the company’s founder Drew Houston said that Dropbox's annual revenue exceeded $ 1 billion.

Several large American technology companies, such as Uber Technologies Inc. and Airbnb Inc., have been strongly opposed to the idea to enter the IPO. They are concerned that stock investors, who are more profit-oriented than private investors, will appreciate the company.

Nevertheless, many private companies are pressured now. Investors are forcing start-ups to enter the stock exchange in order to earn money on them. According to Thomson Reuters, revenues from technological IPOs fell from $ 34 billion in 2014 to $ 6.7 billion in 2015 and decreased to $ 2.9 billion in 2016.

The main competitor Dropbox, Box Inc, was estimated at about $ 1.67 billion during the IPO in 2015, which is less than the estimate of $ 2.4 billion received during the investment rounds before entering the exchange.

source: reuters.com

Science & Technology

Five new technologies that will change the world

Over 500 Genes Impacting Intelligence Identified By Scientists

MIT Scientists Say It Could Be Just 13 Years For Commercialization Of Nuclear Fusion

Apple patents MacBook with a keyboard screen

Vero: An Instagram killer?

Wacky Weather Causes ‘Split In The Polar Vortex’

Smart And Adaptive Artificial Eye Developed By Researchers At Harvard

NASA’s Mars Mission To Make Use Of Cold War-Era Atomic Rockets

Israel Completes Mars Habitat Simulation Experiment

Just $24 Earned By Hackers From The Huge Cryptojacking Campaign Conducted Last Week

World Politics

World & Politics

Ten world's largest importers of weapons

Christine Lagarde: there’s no winner in trade wars

10 best countries for freelancers

Alarming Concerns Or Driving Force Towards Green Energy? – Bitcoin Growth Comes At Environmental Cost

Catalan authorities refuse to greet the King of Spain

Ten Top Politicians To Be Investigated By Greek Parliament On Charges Of Taking Bribes From Novartis

The cloudy future of Saudi Arabia

Australia To Welcome Britain On The Latter’s Interest In Joining TPP