File-sharing unicorn Dropbox has confidentially filed for an IPO that would value the company at $10 billion, according to Bloomberg, with Goldman Sachs and JPMorgan Chase slated to lead a listing that's expected during 1H 2018.
Dropbox has raised hundreds of millions in VC funding from backers such as Sequoia, Fidelity Investments and IVP, reaching a $10 billion valuation with a Series C funding in 2014. Previous reports have indicated the company has 500 million users and more than $1 billion in annual sales.
Following news last week of Spotify's plans for a direct listing on the NYSE, Dropbox has become the second big-name unicorn with significant VC backing to file for a public debut during the early days of 2018. Like Snap in 2017, both are expected to be bellwethers for other venture-backed companies considering public offerings in the near future.