The American Dropbox announces (finally) its IPO | news

The American Dropbox announces (finally) its IPO:

The company reduced its losses in 2017 and unveiled for the first time its turnover of 1.11 billion dollars

The US company Dropbox announced Friday that it has filed its introductory prospectus with the US stock market authorities. Ten years after its inception, the online file storage company hopes to raise $ 500 million.

The action should carry the DBX symbol. The San Francisco-based company announced on Friday (February 23rd) that it has filed the notice of its IPO on Nasdaq (IPO). Specializing in online document storage and sharing, the business still loses money, but loses less.

Dropbox generated a loss of $ 111.7 million in 2017, compared to $ 210.2 million a year earlier. On the occasion of this prospect of entry to Nasdaq, the company has for the first time revealed its turnover since its inception in 2008: 1.11 billion dollars in 2017 against 844.4 million a year earlier.

And the turnover of the company could still increase. According to the Verge information site, 90% of the company's revenue comes from users who buy a subscription on their own. This means that there is still a large market to conquer, provided that the company manages to attract a professional clientele. However, we will have to face very strong competition. Companies like Google and Amazon have also invested in this market, driving down costs.

Indices on the "Tech" appetite of investors. Dropbox claims 11 million paid users in 180 countries in 2017, half of whom live outside the United States. In total, 500 million people use this service worldwide. Created in 2007, open to the public in 2008, the platform immediately appealed to users because of the simplicity with which it was able to exchange and store documents online.

Among the leaders of this IPO are Goldman Sachs, JPMorgan Chase and Deutsche Bank Securities. The move is expected to give hints of Wall Street investors' appetite for high-tech companies following Snapchat's disappointing IPO in March 2017. In December, the Spotify music streaming platform announced a confidential IPO procedure with US authorities. The transaction is expected during the first quarter.