Dropbox's IPO filing reveals 500M users but a $1 billion deficit
In a move reminiscent of Snap's IPO journey , Bloomberg sources claimed last month that Dropbox had quietly filed to become a public company. Suspicious hires last year had tipped their hand, and we waited to see what would happen for a company valued over $10 billion a few years ago. Today, Dropbox's IPO filing surfaced , and while we still don't know what day its stock will hit the market, their documentation pulls back a bit of the veil on the company's situation as it gears up to go public. BREAKING: Dropbox files for IPO. https://t.co/jn8limUSe7 — CNBC Now (@CNBCnow) February 23, 2018 Per the filing itself , Dropbox has over 500 million registered users but only 11 million of those are paying subscribers. Some might sign up multiple times for multiple accounts, so the number of unique users is certainly lower. Ultimately, the company admits in the document, "a majority of our registered users may never convert to a paid subscription to our platform....