A decade after its foundation, Dropbox has presented itself to go public. The adored and easy to use (albeit somewhat stagnant) file synchronization service had documents revealed in the SEC that reveal plans for an initial public offering, where Dropbox seeks to raise up to $ 500 million. The company will operate on Nasdaq with the symbol "DBX".
Some details that we are learning about Dropbox thanks to its first public presentation: the company's revenues have increased over the last three years, growing from $ 603 million in 2015 to $ 1,100 million last year. And although the company lost money in general during all those years, it has been losing less and less, falling from a loss of $ 326 million in 2015 to $ 111.7 million last year.
Dropbox has done very well in the last two years. In 2016, it had 6.5 million paying users. It doubled that in two years, to 11 million. Dropbox says that 90 percent of its revenue comes from users who buy a subscription on their own. That suggests that you have not made much progress with the companies, but also that you have a lot of room to grow if you can take advantage of them.
Dropbox was founded in 2007 and was released to the public in 2008, when it immediately became a success thanks to how easy it was to synchronize files. Although it is still difficult to overcome the simplicity of Dropbox, the company has not done much to expand in the last 10 years. Its main product is practically the same, and although a collaborative document editor was also added, it is also a product offered by many much larger competitors.
The numbers revealed today show that Dropbox is doing well with customers who already love their product; but their continued success depends on whether they can continue to search for users, since Apple, Microsoft and others improve their own file synchronization products and the online productivity suites that accompany them. Dropbox also faces great competition in the business world, against, among others, the similar name box, which is already popular among large companies.