Dropbox Goes For the IPO, Looking to Raise $500 Million
San-Francisco based file storage startup Dropbox filed for the IPO at US Security exchange. The file sharing platform looking to raise $500 Million through this initial public offering. The company will list as a 'DBX' on Nasdaq.
Dropbox known as a file, photo, video sharing platform. Where people can send the large data to others without any interruption. The cloud storage startup competing with tech giants like Google and Amazon.
Dropbox 2017 revenue was $1.11 billion comparison to $844.8 million in 2016, total 31% jump. The losses has been less this year to $111.7 million in 2017 from $210.2 million in 2016.
The cloud storage platform have 11 Million paying users, in which 50% belong from outside US. Over 180 countries, Dropbox provides its services.
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