Dropbox Files for IPO: Listing on NASDAQ with Stock Ticker ‘DBX’
Dropbox will be listed on the NASDAQ with ticker symbol DBX, while documents show it plans to raise $500 million. The company’s filing revealed financial data for the company, which has been valued before at $10 billion:
- Revenue: $1.11 billion in 2017; 31% gain YoY
- Net loss: $111.7 million in 2017; $210.2 million in 2016
- Average revenue per user: $111.91 USD
- 500 million registered users; 100 million signed up since start of 2017
The company has previously filed for its IPO confidentially, but the SEC has now revealed the filing on Friday afternoon.
Dropbox founder Drew Houston told Forbes in 2011 how Apple co-founder Steve Jobs once made a nine-digit offer to acquire the company in 2009. According to Houston, Jobs said Dropbox was a “feature” and not a “product”. Houston eventually told Jobs he wasn’t selling, and fast forward to today, the cloud company has its IPO in 2018.