Dropbox going public?

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Dropbox is the latest big name tech company rumored to be working towards a pubic IPO and just recently they've secured an extra $600 million dollar credit line to make it all happen. Dropbox is doing quite well at the moment with annual revenues over $1 billion and it appears the line of credit could be used to snap up other properties if the opportunity presents itself. The estimated value of Dropbox right now is unclear but back in 2014 they were rumored to be worth in the $10 billion dollar range which I guess we'll have to wait and see if that number hold up when they go public. Bloomberg has more on this story.

Dropbox Inc. is opening a $600 million credit facility from six banks led by JPMorgan Chase & Co., said people familiar with the plans, as the cloud file-sharing startup pushes toward an initial public offering as soon as this year.

The line of debt has commitments from the banks and is expected to close on Monday, said the people, who asked not to be identified because the deal isn't finalized. The financial security provides Dropbox with flexibility as it deliberates an IPO.