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Decacorn watch: Dropbox files for a $500 million IPO

Decacorn watch: Dropbox files for a $500 million IPO

Dropbox, which was valued at $10 billion in its 2014 funding round, would be one of the biggest USA enterprise technology companies to list domestically in several years. Dropbox is planning to use the IPO funding to build even more third-party partnerships and integration, while also working on creating more paying customers out of its huge user base.

While the Silicon Valley-based incubator has overseen the development of several successful companies like, Airbnb, Docker, and Instacart, Dropbox will be the first within the Y Combinator program to go public.

Dropbox has previously had an estimated value of $10 billion.

Dropbox's full IPO disclosure is available here.

The S-1 form Dropbox filed with the Securities and Exchange Commission revealed that the company lost $111 million on revenue of $1.1 billion previous year.

Dropbox, which was founded in 2007 and was valued at $10bn (£7.2bn) at a fundraising round in 2014, filed with an offering size of $500m, although this amount is normally a temporary placeholder and often changes. Dropbox's annual revenue has grown significantly year-over-year, while the company has also managed to slash its losses from almost $326 million in 2015. To compete, Dropbox is pouring money into research and development to convert non-paying users to paid subscribers, and to enhance collaborative tools. It has more than 500 million registered users, with more than 11 million paying users. The company's revenue growth rate has begun to slow, however.

The filing also said co-founder and Chief Executive Drew Houston (pictured) has 24.4 percent of voting power in the company.

Exact pricing on the shares will arrive in the upcoming weeks from Goldman Sachs and JPMorgan Chase, who are leading this IPO.

Dropbox will list on NASDAQ under the stock ticker DBX, but the initial stock price is still unknown and will likely be set closer to its Wall Street debut.

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