Data-sharing website Dropbox Inc. is reportedly hiring underwriters for an initial public offering that is set to come later this year. If this happens, the cloud-based service would become the largest US-based technology company to go public since Snap Inc. did earlier this year, which has not been successful for the company so far.
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Back in 2014, Dropbox Inc. was valued at almost $10 billion USD in a private fundraising round. The company has yet to comment on the situation.
Dropbox Inc. was originally founded in 2007 by Drew Houston and Arash Ferdowsi, two students from the Massachusetts Institute of Technology. The service has been instrumental in furthering technological advances in cloud storage and file synchronization. In other related news, take an inside look at the company’s recently revamped headquarters.