Dropbox Gave Three Executives $190 Million in Stock Before IPO

Dropbox Gave Three Executives $190 Million in Stock Before IPO

Dropbox Gave Three Executives $190 Million in Stock Before IPO

It will list on the Nasdaq under the stock ticker "DBX".

After making the decision to roll its own infrastructure and reduce its dependence on Amazon Web Services, Dropbox reduced its operating costs by $74.6 million over the next two years, the company said in its S-1 statement Friday. Dropbox was last valued by private-market investors at about $10 billion. It has more than 500 million registered users, with more than 11 million paying users.

Dropbox, the San Francisco file-sharing company that's been privately valued at $10 billion, filed for an initial public offering, saying it is capable of moving fast.

Dropbox said it plans to raise $500 million, but it didn't provide a price range, so it's not possible to know the potential valuation.

According to its IPO prospectus, Dropbox now has 11 million paying subscribers (and 500 million registered users on the service).These subscriptions now account for 90% of the company's $1.1 billion in revenue.

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Dropbox competitor Box listed on the public markets back in 2015. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.

Dropbox, which was founded by MIT students Drew Houston and Arash Ferdowsi, promises to be one of the most prominent technology initial public offerings of the past few years.

Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG and Allen & Co. are leading the offering. The following year in 2017, it saved an additional $35.1 million in operating costs beyond the 2016 numbers. They'll vest over five years as long as he remains on the job. The company confidentially filed for its IPO in October, but the information didn't become publicly available until Friday.

The place where you may or may not store and share your photos, PDFs, and other documents is going public. Chief Strategy Officer Imran Khan got a grant of stock worth about $100 million.

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