According to information obtained by Reuters, Dropbox will be the next service to take a chance on the difficult stock market of the United States. The IPO is expected to launch later this year, the largest technology company in the United States to go public since Snap Inc., the parent company of Snapchat, in March this year.
The American company reportedly will start collecting investments with banks ‘in the coming weeks’. The news comes after reports that Dropbox secured a $600 million credit line in six financial institutions at the end of March; A type of action that is linked to an IPO.
Valued at nearly $10 billion, the company established in 2007 as free cloud storage has suffered greatly in recent years with the growth of competitors Google Drive and Microsoft’s OneDrive.
Trying to reinvent itself and remain alive in the market, Dropbox is currently focused on winning customers in the corporate market by charging a license fee based on the number of employees of the contracting company.
Several popular tech names such as Uber Technologies Inc and Airbnb Inc have resisted IPO in recent months amid worries that investors, who are mostly interested in profitability, would assign lower valuations to them.
Let’s hope that, other than the social network of the ghost, Dropbox succeeds in this onslaught.
Just days after revamping its infrastructure to speed up file synchronization, Dropbox has decided to upgrade its mobile apps with an extremely useful feature.
The cloud storage provider offered its Android and iOS clients the ability to edit text files directly from the mobile application itself.
From this new version, a new ‘Edit’ icon will appear when viewing this type of content in the app; During editing it becomes ‘Save’.
The best part of this is that so the company waives its users having to turn to third-party text editors when making that quick change to a file saved in Dropbox.
In iOS the application has also been awarded an auto-capture feature – when scanning documents, just focus them with the camera so that the photo is taken automatically.
Dropbox is free and available for download on the App Store, Google Play Store, and Windows Store.