Dropbox has confidentially filed to go public

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Dropbox is reportedly in talks with several other banks that may join the fray as well. 500 million registered users around the world use Dropbox to work the way they want, on any device, wherever they go.

The joke surrounding Dropbox for years was that the company was set to go public in the fourth quarter of that year - every year.

The sources said Goldman Sachs Group Inc. and JPMorgan Chase & Co. are acting as underwriters, which was reaffirmed by a tipster who spoke separately to CNBC.

Dropbox has filed confidentially for IPO, according to Bloomberg.

In June, in hopes of spurring more IPOs, the Securities and Exchange Commission broadened the rules to allow all companies to confidentially submit their IPO registration documents.

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Representatives for Dropbox declined to comment on the filing.

Unlike money-losing Snap, Dropbox will come to the table with annualized sales of more than $1 billion (roughly Rs. 6,350 crores), Chief Executive Officer Drew Houston said in an interview past year.

In July 2017, Dropbox featured as No. 2 on the Forbes Cloud 100 list of top private cloud companies. If it does indeed go public, we'll learn the ins and outs of Dropbox soon.

If the San Francisco-based online file-storage company- last valued by private-market investors at about $10 billion - follows through on going public, it will become one of the highest-profile technology companies of late to seek a stock-market listing. Those benchmarks are the product of more than two years of focusing the company, expanding its product suite for businesses and reining in expenses, Houston said at the time. According to CEO Dennis Woodside, the company has spent hundreds of millions of dollars to build data centres, allowing it to cut costs while improving file transfer speeds.

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