What You Need To Know About The Dropbox IPO
Our long anticipated is over: Dropbox has made its public debut. Founded in 2007, the company has proven itself as a major player in the software as a service (SaaS) industry. Its platform allows individual users and businesses to upload, edit, and share files in the cloud.
Since its inception, Dropbox has raised a total of $2.1 billion in funding through a total of 9 funding rounds. In 2001, with a pre-money valuation of $3.8 billion, the company raised $250 million in an early-stage, Series B funding round led by Index Ventures. But venture money can’t stay private forever, and ruminations on Dropbox’s IPO ambitions persisted for years.
The first hint at an IPO came in April 2014 when the company picked up a credit line of $500 million from JP Morgan Investment—a move some companies make before they file for public listing. That debt-financing round was followed by a Series D round in November 2014, which brought in another $350 million for the file sharing platform, putting IPO discussions on hold.
Leading up to the announcement, Crunchbase News analyzed Dropbox’s worth, its competition, and potential outcomes from the IPO, and there’s more reporting to come. To stay up to date on the latest Dropbox announcements, bookmark this page for future updates, or follow Crunchbase News on Twitter and Facebook.