Dropbox has filed confidentially for IPO

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  • Dropbox, the document-sharing company valued at $10 billion has filed the paperwork for an initial public offering, according to reports.

    The company is expected to go public in early 2018, with Goldman Sachs Group Inc. and JPMorgan Chase & Co. to lead the potential listing, according to people familiar with the matter.

    The company was launched in 2007 and speculation has followed them for years on whether they would go public or not.

    However, with such a high valuation, a lot of pressure was on the company to wait until they felt they could achieve a similar market cap on the stock market.

    Drew Houston, founder and CEO, claimed last year that the company made revenues of $1 billion per year, and announced that the company was profitable, claiming that 500 million people use its service, including 200,000 businesses.

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