Thursday, 19 April, 2018

Dropbox files confidentially for IPO

Reuters Reuters
Preston Stone | 12 January, 2018, 03:23

Dropbox Inc., the file-sharing private company valued at $10 billion, has filed confidentially for a US initial public offering, people familiar with the matter said.

Bloomberg reported Thursday that Dropbox had filed for an IPO using the Securities and Exchange Commission's confidential reporting system, which allows Dropbox to submit its initial income statements and balance sheets to the SEC without letting the public pore all over the details.

Dropbox achieved its $10 billion private valuation in its last private funding round in 2014.

The IPO will be a key test of Dropbox's worth after it was valued at nearly $10 billion in a private fundraising round in 2014.

Dropbox has said that it has annual sales that exceed $1 billion.

According to Bloomberg, Goldman Sachs and JPMorgan are leading the listing. But bankers and analysts said numerous biggest potential market debutantes would likely sit on the sidelines for another year, having already raised enormous sums in the private markets.

Google announced a new standalone wireless VR headset
Interestingly, HTC VIVE has also added dual front-facing cameras, something that developers could find creative uses for. The creators of the HTC Vive Pro carefully approached the issue of load distribution on the user's head.

As of August, Dropbox had 500 million users, including 200,000 businesses, storing and sharing files online through its cloud service. Dropbox plans to hire more banks as advisers, they said. The company declined to comment on the news, as did Goldman Sachs and JPMorgan.

Several big USA technology companies such as Uber Technologies Inc and Airbnb Inc have resisted going public in recent months, concerned that stock market investors, who focus more on profitability than do private investors, would assign lower valuations to them.

But Dropbox's road has also been bumpy.

Since then, Houston and his management team have focused on containing costs while building out features like collaboration services and shared document creation.

Dropbox is likely to argue that its bigger user base and greater reliance on word-of-mouth to gain consumers should mean that it is valued higher than Box.

Recommended

CES 2018: Vuzix Blade AR glasses are the next Google Glasses CES 2018: Vuzix Blade AR glasses are the next Google Glasses Windows computers are ubiquitous, and once the Alexa app starts showing up there, it will be effectively everywhere. Needless to say that Alexa will instantly eclipse native assistant Cortana with its humungous count of skills.

Myanmar charges two Reuters reporters under Official Secrets Act Myanmar charges two Reuters reporters under Official Secrets Act Two Reuters journalists jailed in Myanmar have been formally charged with violating the country's Official Secrets Act. Several non-governmental and journalist organisations have called the arrests an attack on the freedom of the press.

White House says 'no contradiction' in Trump's tweets on FISA law White House says 'no contradiction' in Trump's tweets on FISA law Kelly told West Wing staffers to leave the contraband at home, in their cars or in their offices located outside the West Wing. On Wednesday's broadcast of " Late Night ", the comedian used a spoof press conference to grill White House press secretary.

First Look at Tom Hardy as Eddie Brock in Venom First Look at Tom Hardy as Eddie Brock in Venom I can promise you badass action, Venom's dark humor, and I can also promise you an absolutely stunning performance by Tom Hardy . Attendees of the Brazil Comic-Con got the first info from director Ruben Fleischer as he talked to them from the Venom set.

Trump suggests surveillance law could have been used to 'abuse' his campaign Trump suggests surveillance law could have been used to 'abuse' his campaign A White House spokesman did not reply to an inquiry asking whether Trump wants the House to vote against reauthorizing FISA. John Cornyn, R-Texas, the chamber's second-ranking Republican and a member of the Judiciary and Intelligence Committees.

Camila Cabello Opens Up About Why She Left Fifth Harmony Camila Cabello Opens Up About Why She Left Fifth Harmony And the tweet that Beats 1 made on Twitter was the icing on top, as they quoted Elton saying , "I'd just say congratulations ". Camila Cabello attends 101.3 KDWB's Jingle Ball 2017 Presented by Capital One at Xcel Energy Center on December 4, 2017 in St.

Woman returns 'dead' Christmas tree to Costco for a refund Woman returns 'dead' Christmas tree to Costco for a refund That's what a California woman tried to do January 4, when she brought her dead tree back to a Costco store, the Sun reported . Scott Bentley was so outraged the woman's chutzpah, he posted a photo he took of her along with his commentary on Facebook .

James Franco Accused Of Sexual Misconduct By Five Women James Franco Accused Of Sexual Misconduct By Five Women A common theme among the accusers' stories was the belief that Franco would help their careers if they agreed to his wishes. This isn't the first time Franco has dealt with allegations of inappropriate behavior.

Voters Wary of Trump, Confident in Economy Voters Wary of Trump, Confident in Economy Even worse, an awesome 57 percent of respondents said Trump is "not fit for office" and 69 percent said he isn't "level-headed". Here are the top 10 most used words with the tally of how frequently they were used.

Ripple (XRP) and MoneyGram (NASDAQ: $MGI) Partner to Modernize Payments Ripple (XRP) and MoneyGram (NASDAQ: $MGI) Partner to Modernize Payments According to a press release , MoneyGram will test Ripple's xRapid service due to its claimed speed and cost efficiency. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.

Louisiana governor considering work requirements in Medicaid Louisiana governor considering work requirements in Medicaid As of October 2017, almost 75m individuals were enrolled in Medicaid and the children's health insurance program (Chip). The Trump administration's move allows states to deny medicaid if an able-bodied adult doesn't have a job. .

Conway Told Rivers, Mountains Could Prevent Border Wall in Places Conway Told Rivers, Mountains Could Prevent Border Wall in Places Not only is Conway's claim a generalization of epic proportions, it's also flat-out untrue. Conway responded in a series of tweets in which she.repeatedly mentioned Hillary Clinton .

Coli Outbreak From Salad Grows As CDC Reports 24 People Infected Coli Outbreak From Salad Grows As CDC Reports 24 People Infected No recalls have been initiated, but some retailers and restaurants temporarily pulled romaine lettuce from shelves and menus. Sometimes outbreaks end before enough information is gathered to identify the likely source.

Re-investigate cases of 1984 anti-Sikh riots, Supreme Court says Re-investigate cases of 1984 anti-Sikh riots, Supreme Court says On August 16 previous year , the court had appointed the supervisory panel to examine the SIT's decision to close 241 cases. It had said that nine cases were still being investigated by the SIT, while two cases are being probed by CBI.

Google makes little noise buying United Kingdom sound tech startup Redux Google makes little noise buying United Kingdom  sound tech startup Redux The acquisition could prove useful to Google, and could change the way it designed its future Pixel smartphones. One of the more recent purchases by Alphabet was obtaining HTC in 2017, for over $1 billion ($750 million).