Dropbox Files For $500 Million IPO; Will List on Nasdaq As DBX
Just weeks afterwards reports in the Us financial media suggested that Dropbox had secretly filed for an IPO, the SEC (Securities and Exchange Commission) has finally unsealed the documents, revealing details about the company's plans to go public. According to documents bachelor on the SEC website, Dropbox has filed to heighten $500 million past listing on the Nasdaq. The visitor claims to have earned total revenues of $1.xi billion in 2017, up 31 percent from the previous year, when the visitor earned $845 one thousand thousand.
According to the filing, Dropbox hired Goldman Sachs and J.P. Morgan to handle the IPO, and will list on the Nasdaq under the ticker symbol 'DBX'.
The document also claims that boilerplate revenue per paid user went up to $111.91 last year, only the visitor still declared a net loss of $111.vii million. Dropbox had reported a internet loss of $210.2 1000000 in 2016, although, it has had a positive greenbacks menstruum since that year. Overall, the company claims to have 500 million registered users, 100 million of whom apparently signed up last yr lonely.
Dropbox, which operates on a 'Freemium' model, says that the number of paid users is nonetheless only a piddling over 11 million, with 300,000 of them using Dropbox Business, the corporate version of the company's cloud-storage service. The gross margin looks fairly healthy at 67 pct.
Dropbox caters primarily caters to consumers and small businesses and, by its own admission, has "limited experience selling directly to big organizations". The company, however, counts the likes of Adidas, Expedia and News Corp among its clients. Either way, the company is planning to make a stronger button for the lucrative business clients, and according to the regulatory documents, is planning to hire more sales staff as a way to sell more to large companies.
The documents also evidence that that CEO and co-founder Drew Houston has 24.iv per centum of voting power in the company, while Sequoia Upper-case letter has 24.8 percent. The company was earlier reported to accept been valued at $ten billion.
Source: https://beebom.com/dropbox-ipo-nasdaq-dbx/
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