Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Jaap Arriens / NurPhoto via Getty Images

Dropbox, a file storage and sharing company, has filed for a $500 million initial public offering.

  • Offering details: The San Francisco-based company plans to trade on the NASDAQ under ticker symbol DBX, with Goldman Sachs listed as left lead underwriter.
  • Financials: Dropbox is not profitable yet. It reported net losses of $210.2 million and $111.7 million in fiscal 2016 and 2017, respectively. Dropbox brought in $844.8 million in revenue during the fiscal year of 2016, and $1.1 billion in fiscal 2017.

Business numbers:

  • More than 500 million registered users, in more than 180 countries—though it double-counts people who have multiple separate accounts.
  • 11 million paying users, up from 8.8 million in 2016, and 6.5 million in 2015 (same note as above).
  • Average revenue per paying user (ARPU): $111.91 in 2017, up from $110.54 in 2016, and down from $113.54.
  • 90% of its revenue is from self-serve channels.
  • More than 500,000 developers had registered and built applications using Dropbox's tech as of Dec. 2017.

Backers: Dropbox has raised more than $1.7 billion in venture capital and debt financing, and was most recently valued at about $10 billion. Its major backers include Sequoia Capital, Accel, T. Roe Price, and Green Bay Ventures.

The story has been updated with more information.

Go deeper

Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.
2 hours ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

3 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.