& cplSiteName &

Dropbox Reportedly Filing for IPO

Scott Ferguson

Cloud storage and file sharing giant Dropbox has filed confidential paperwork for an initial public offering (IPO) for later this year, according to Bloomberg.

If and when the company goes public, it could be worth more than $10 billion, according to the report. Since its founding in 2007, the company has raised more than $2 billion in venture capital funds.

Along with Box, Dropbox has been at the forefront of bringing easy-to-use cloud technology into the consumer market, as well as the enterprise market, by allowing people to easily share files of all different sizes. Within corporate networks, this had led to the phenomenon of "shadow IT," where applications are added to the infrastructure without IT's knowledge. (See NASA Cloud Computing: Security Concerns Hover.)

(Source: Dropbox)
(Source: Dropbox)

The company also faces competition in these markets, not only from Box, but from Microsoft Corp. (Nasdaq: MSFT) and Google (Nasdaq: GOOG), which also take a number of file-sharing tools, as well as cloud services, for collaboration.

If Dropbox goes ahead with the IPO, it would join several other enterprise companies that have gone the public route over the last year.

In October, MongoDB, known for its open source databases as well as cloud services, filed for an IPO. (See MongoDB IPO Shows Upside of Cloud, Open Source.)

Cloud analytics firm Cloudera also filed for an IPO in 2017. (See Cloudera Acquires AI Startup Fast Forward Labs.)

Keep up with the latest enterprise cloud news and insights. Sign up for the weekly Enterprise Cloud News newsletter.

When it goes public, Dropbox will have impressive numbers to show Wall Street. The Bloomberg report noted that the company has about $1 billion in annual sales, along with 500 million customers, which includes 200,000 businesses.

The company has also worked at building out its own infrastructure. It's one of the few companies that left the public cloud -- in this case Amazon Web Services -- to build its own hosted private cloud to support its business. Snap Inc., another big-name IPO from last year, has taken heat for pouring billions into AWS, as well as Google Cloud Platform. (See Snap Pays $2B for Google Cloud Services.)

Goldman Sachs and JPMorgan Chase are assisting with the Dropbox IPO, according to Bloomberg.

Related posts:

— Scott Ferguson, Editor, Enterprise Cloud News. Follow him on Twitter @sferguson_LR.

(1)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
More Blogs from Scott Ferguson
From its roots in industrial farm machinery and other equipment, John Deere has always looked for a technological edge. About 20 years ago, it was GPS and then 4G LTE. Now it's turning its attention to AI, machine learning and IoT.
Artificial intelligence and automation will become more integral to the enterprise, and 90% of all apps will have integrated AI capabilities by 2020, according to Oracle CEO Mark Hurd.
IBM is now offering access to Nvidia's Tesla V100 GPUs through its cloud offerings to help accelerate AI, HPC and other high-throughput workloads.
CIO Rhonda Gass is spearheading an effort to bring more automation and IoT to the factories making Stanley Black & Decker tools and other equipment.
Workday is looking to build out its machine learning and artificial intelligence capabilities with the acquisition of startup SkipFlag.
Featured Video
From The Founder
Light Reading founder Steve Saunders talks with VMware's Shekar Ayyar, who explains why cloud architectures are becoming more distributed, what that means for workloads, and why telcos can still be significant cloud services players.
Flash Poll
Upcoming Live Events
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
I'm Back for the Future of Communications
Phil Harvey, US News Editor, 4/20/2018
Verizon: Lack of Interoperability, Consistency Slows Automation
Carol Wilson, Editor-at-large, 4/18/2018
AT&T Exec Dishes That He's Not So Hot on Rival-Partner Comcast
Mari Silbey, Senior Editor, Cable/Video, 4/19/2018
Facebook Hearings Were the TIP of the Data Iceberg
Dan Jones, Mobile Editor, 4/20/2018
Pay-for-Play Is a Sticking Point in Congress
Mari Silbey, Senior Editor, Cable/Video, 4/18/2018
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed