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Dropbox files for an IPO

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.

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Source: McCabe gave interview, memos to Mueller

Special counsel Robert Mueller
Mueller after briefing members of Congress on Capitol Hill last year. Photo: Saul Loeb / AFP / Getty Images

Andrew McCabe, the former FBI deputy director who was fired Friday night, has met with special counsel Robert Mueller's team and has turned over memos detailing interactions with President Trump, according to a source familiar with the exchange.

  • McCabe's interview with Mueller's prosecutors apparently included what he knows about former FBI director James Comey's firing.

The bottom line: The memos include corroboration by McCabe of Comey's account of his own firing by Trump, according to the source.

Khorri Atkinson 17 hours ago
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Comey to Trump: America "will hear my story very soon"

Trump shakes hands with Comey at the White House last year. Photo: Andrew Harrer-Pool / Getty Images

Former FBI Director James Comey tweeted a pointed message to President Trump this afternoon after the firing of former FBI deputy director Andrew McCabe:

Between the lines: Comey's book comes out April 17.