Tech company Dropbox has filed an S-1 registration form with the U.S Securities and Exchange Commission (SEC), signally to the world its intentions to go public, with their ticker possibly being DBX.
According to NASDAQ, the company has the interest to raise funds of USD $500 million shortly. As a private company, it has made marginal strides having over 300,000 teams utilising the Dropbox Business, and also having over 500 million registered users around the world.
Unlike many other newly founded tech companies that went public having existing losses to their books, Dropbox focused heavily on growing its business and consumer market for cloud storage.
According NASDAQ this can be seen in Dropbox’s sharp increase in revenue of 31 percent to $1.1 billion. Gross margin also increased to 67 percent in 2017 from 54 percent in 2016. However, the company is still in a growth phase as their operating loss expanded 31 percent as well to $851.6 million and posted a net loss of $111.7 million in 2017.
Somewhere on your desktop, laptop, phone tablet or application store, you may have come across an app looking like an open rectangular box. Dropbox is a privately-owned company founded in June 2007 that provides a service that makes all its users’ files available from any computer, tablet or phone.
This is made possible through sync technology where a prospective user installs the Dropbox app and create an account, where any files or folder added to Dropbox will automatically save to the their website and sync to their devices. This allows users to share any folder in their Dropbox, making it perfect for team projects or sharing with family or friends.
If listed in the early half of this year Dropbox should be a stock to keep in your view, as the company displays the right management and attitude of growing a business being private and remaining profitable.