Dropbox Is Said to Be Planning to Go Public This Year
- 6 years ago
Dropbox Is Said to Be Planning to Go Public This Year
“Will unicorns realize they have to grow up and grow out of their Peter Pan mentality?” he asked, adding
that a public offering for Dropbox would also help set the scene for whether other unicorns “reignite and grow, or do they fade away?”
Dropbox filed confidentially with the Securities and Exchange Commission, which companies
that are generating less than $1 billion a year in revenue can do, affording it time to make its preparations away from the glare of potential investors.
If Dropbox — last valued by private-market investors at about $10 billion — follows through on an initial public
offering, it will become one of the highest-profile technology companies of late to seek a stock market listing.
Last year, several much buzzed-about tech companies, including Snapchat’s parent company
and Blue Apron, the meal kit delivery service, went public — and then promptly disappointed investors, raising questions about the durability of these businesses.
It has hired Goldman Sachs and JPMorgan Chase to help underwrite the initial offering, said the people briefed
on the matter, who asked not to be identified because they were not authorized to speak publicly.
“Will unicorns realize they have to grow up and grow out of their Peter Pan mentality?” he asked, adding
that a public offering for Dropbox would also help set the scene for whether other unicorns “reignite and grow, or do they fade away?”
Dropbox filed confidentially with the Securities and Exchange Commission, which companies
that are generating less than $1 billion a year in revenue can do, affording it time to make its preparations away from the glare of potential investors.
If Dropbox — last valued by private-market investors at about $10 billion — follows through on an initial public
offering, it will become one of the highest-profile technology companies of late to seek a stock market listing.
Last year, several much buzzed-about tech companies, including Snapchat’s parent company
and Blue Apron, the meal kit delivery service, went public — and then promptly disappointed investors, raising questions about the durability of these businesses.
It has hired Goldman Sachs and JPMorgan Chase to help underwrite the initial offering, said the people briefed
on the matter, who asked not to be identified because they were not authorized to speak publicly.