Daily Management Review

Dropbox is preparing for an IPO


07/03/2017


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.



download.net.pl
download.net.pl
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

Scientists Discover Largest Ever Under Water Volcanic Eruption Near New Zealand

Bitcoin craze increased load on the power grid to the maximum

PC And Server Performance Slows Down Due To Security Patches For Chip Flaws, Says Microsoft

Cybersecurity Firm Claims Cryptocurrency Monero Might Be Getting Funneled To North Korea University

The Way We Travel Will Be Changed by The Colorless, Odorless Gas - Hydrogen

EU's Big Change In Data Protection Rules Makes Businesses To Get Ready For It

Artificial Intelligence Helps NASA Find An 8th Planet In Orbit Of A Distant Star

Australian Research Success Could Mean Shatterproof Cell Phones Could Soon Be A Realityv

Top ten hi-tech events of the year

Tesla Considering Designing And Developing AI Chips On Its Own To Support Its Auto-Pilot Project

World Politics

World & Politics

Both The Korean Countries Will Come Together In Olympic Talks

Parties of Germany agreed on the migrants problem

Munich Re: Natural disasters caused record damage in 2017

High-Level Talks To Be Held Between North And South Korea In Over Two Years

Sexually Abusing Children Interests An Estimated 20,000 British Men, Shows Police Monitoring Of Chat Sites

2018 Could See An Increase In Terror Attacks Where Both ISIS As Al-Qaeda Continue To Present Threats

What will happen to European populism in 2018?

Events This Year In Asia Proves How Dangerous ‘Fake News’ Can Be