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Cloud storage company Dropbox has filed for a $500 million IPO. The public filing has offered insight into its financials, which include $1 billion in annual revenue and 500 million registered users. The company will list on the Nasdaq as "DBX."
Dropbox's expenses have been driven by a swelling R&D budget, but the company became free-cash-flow positive in 2016. Unlike many cloud companies that rely on enterprise sales teams, over 90 percent of Dropbox's revenue comes from users purchasing their own subscription, the company said.
Dropbox's expenses have been driven by a swelling R&D budget, but the company became free-cash-flow positive in 2016. Unlike many cloud companies that rely on enterprise sales teams, over 90 percent of Dropbox's revenue comes from users purchasing their own subscription, the company said.