Today it was reported on Quartz that sources with knowledge of the situation have indicated that Dropbox intends on going public in 2013.
This is not surprising news as much as the timing is interesting. Many recent technology offerings have struggled, making Dropbox’s apparent decision to IPO in this calendar year almost audacious; it must feel that its fundamentals can beat back any market hangovers from he likes of Zynga and Groupon.
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Quartz pegs the likely valuation of Dropbox around $4 billion. The company’s last round of funding, a full quarter billion dollars, came in late 2011 according to CrunchBase. Given that, and the services likely revenue tallies, that it is moving towards flotation is in line with normal business processes. To date the company has raised a total of $257 million, to place its $250 million round into better context.
That said, Dropbox is in all probability cash-rich at the moment, perhaps allowing it flexibility in terms of when it pulls the IPO trigger.
The company has recently increased its focus on corporate customers, putting it into closer competition with Box, a key rival. The recently revamped ‘Teams’ product allows IT managers control over use, likely increasing the attractiveness of the service for larger companies.
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