Dropbox Raises A Few Million Ahead Of Reported IPO

 

Dropbox conducts private placement; raises cash ahead of purported IPO.

Dropbox has been one of the more anticipated IPO candidates for a while.  Rumor has it that rival Box beat it to the punch with a confidential IPO filing after announcing a $100 million funding.

Logo - Dropbox

Dropbox raises cash ahead of rumored IPO.

Even if Dropbox does decide to go public, it may not be just for the cash. Dropbox made an SEC filing disclosing that it raised $325 million in a private offering, out of a total offering size of $450 million. Allen & Company and Goldman Sachs were the bankers and received a combined $8.1 million for their efforts. The valuation was reportable around $10 billion.

Dropbox also hired the former head of Motorola Mobility as COO, indicating that it is bringing experienced people with public company experience on board.

Logo - Box.com

Box reportedly beat Dropbox to the IPO.

We’re looking forward to a deeper dive into the business model when Box and Dropbox finally file their IPO docs publicly.

This entry was posted in Business Strategy, Executive Changes, IPO, Private Placement, Public Offering and tagged , , , , , , , , , . Bookmark the permalink.

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