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Dropbox's IPO was one of the more high anticipated ones in 2018, after the company filed for a confidential IPO back in January. Indeed, some observers think that thaw, fueled by the success of the relatively few IPOs last year and so far this year - cloud security firm Zscaler Inc. saw its shares more than double in its IPO last week - is just starting. The cloud-based file sharing company received $10 billion valuation during 2014 private funding round, slightly higher than the current valuation.

Streaming music leader Spotify Technology SA (SPOT.N) is scheduled to do a direct listing of shares on the New York Stock Exchange on April 3. Dropbox already expects the debut price of their shares to be between 18 and 20 Dollars per share compared to the previous range of 16-18 USD per share. The biggest and most recent example of such an IPO was Snap, which went public in March 2017.

Around 11 million users pay for a more advanced service.

At its current share price, Dropbox is now a publicly traded behemoth with a market capitalization of $9.1 billion. And Dropbox has managed to attract a lot of consumers for its latest IPO pricing and that has given strength to the tech unicorns or the young companies that are valued over $1 billion. Previous year it reported a net loss of $111.7 million on $1.11 billion of revenue.

Venture capital firm Sequoia Capital will retain a stake of about 25 per cent. According to Forbes, Graham advised Houston to get a co-founder onboard before submitting his application.

At the price range of $18 to $20, Dropbox could raise up to $720 million, which would value the company anywhere from $7.8 billion to $8.7 billion, Statista said. Bloomberg also noted that "Dropbox has shifted to focus on selling its cloud service to larger businesses, which has helped boost revenue".

The company competes with much larger technology firms such as Google, Microsoft and Amazon.com.

The company posted revenue of $1.1 billion on a net loss of $111.7 million in 2017.

"If investors had bought Dropbox stock within the last six months, they'd be up over 75 percent".