In what may prove to have been anticipation of the IPO process, Dropbox announced in September 2017 that it was appointing Hewlett Packard Enterprise CEO Meg Whitman to its board of directors. In April 2017, the company said it was profitable on an EBITDA basis, which would include its stock-based compensation. It's currently valued at $3.17 billion.In June 2016, Houston, who cofounded Dropbox with Arash Ferdowsi in 2007, told a tech conference in San Francisco that the company was cash flow positive. Those are both good signs.ĭropbox competitor Box listed on the public markets back in 2015. It lost $111.7 million in 2017, about $100 million less than in 2016. More than 11 million of these users pay for the services.ĭropbox's revenue was $1.11 billion in 2017, a 31 percent increase from the year prior. The company shared it has 500 million registered users, with 100 million users having signed up since the beginning of 2017. The company offers free and paid cloud storage to individuals and businesses. Of course, Dropbox is quite a different business. Earlier this week, celebrity Kylie Jenner, one of the app's most popular users, admitted she wasn't using Snapchat anymore. Snap, the parent company of Snapchat, is facing ongoing competition from Facebook and user backlash. Blue Apron was a big disappointment, partially because of Amazon's dominance in the delivery industry. The announcement comes as new tech stock has had somewhat of a rocky start on the public market. Now, Dropbox is the first big tech IPO of the year.

But Dropbox's move is impressive in part because CEO Drew Houston once took a risk by turning down an offer from the one and only Steve Jobs. Dropbox filed documents with the SEC confidentially in January and had plans to go public the first half of 2018, Bloomberg reported. We serve more than 500 million registered users across 180 countries,' the S-1 document states.ĭropbox's move to go public isn't all that surprising, but it is an important step for the company and the larger tech industry.

Today, knowledge lives in the cloud as digital content, and Dropbox is a global collaboration platform where more and more of this content is created, accessed, and shared with the world. Maybelline deletes tweet about abandoning Snapchat for Instagram

Dropbox stock ipo