Dropbox confidentially files for IPO

The Drop Box logo is seen in this illustration

The Drop Box logo is seen in this illustration

The company received a $10 billion valuation after its last funding round in 2014, which venture capital research firm CB Insights opined to be too high.

The cloud-based file sharing company has been valued at $10 billion a few years ago and has been steadily workin towards becoming a pubic company.

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The file-storage company Dropbox has filed papers indicating its attention public, according to business news site Bloomberg.

The company is aiming to begin trading on a stock market in the spring, one of the people briefed on the matter added, cautioning that the timing of an IPO is fluid and may change.

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Dropbox was not immediately available for comment. For many years now, many have wondered why Dropbox was constantly holding out on going public, but better late than never. How the stock fares post-listing will be an ongoing focus for both Wall Street and the tech community. Critics have said the law doesn't give investors time to properly assess a company's financial information before they must decide whether or not to buy.

Earlier this month the Swedish streaming music service Spotify also reported to be making a "confidential" or "secret" IPO. These investors are set for big pay-out should the public flotation of Dropbox go through. Dropbox has more than 500 million users in more than 200 countries. The service lets companies keep documents in a commonly accessible place without having to build their own server farms. That's made it easier for Dropbox to cut costs while speeding file transfers, Chief Operating Officer Dennis Woodside said in an interview previous year. There has been no official confirmation about this just yet, either from Dropbox or Goldman Sachs and JPMorgan for that matter.

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