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TRFG

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Why don't you just give me whatever you want to waste on Twitter
 

se1f_made

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Current portfolio makeup:
25% AAPL
25% AMZN
25% TSLA
25% FIZZ, TITN, RH

Watching it closely for the market to correct itself, if this happens then hopefully I'll get out with the clothes on my back because I'm greatly invested in the current market
 

mson

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Dropbox Opens a $600 Million Credit Facility to Gain Flexibility Ahead of its IPO Plans
by Sneha Nalawade Mar 31, 2017
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Dropbox, Inc., will be raising $600 million in credit facility from six banks - JPMorgan, Goldman Sachs, Bank of America, Royal Bank of Canada, Macquarie, and Deutsche Bank. The deal, according to sources who do not wish to be disclosed, is expected to close on Monday. This new line of credit by the cloud-based file sharing startup will provide the financial security and flexibility to the company, as it explored the details regarding going public later this year.



Since its inception in 2007, San Francisco-based Dropbox has achieved a large number of loyal users, who leveraged its cloud system to store and share images and other files. As of March 2016, it had 500 million registered user accounts. Its most recent fundraising valued it at $10 billion in 2014. It also received credit facility of $500 million, a few months later, by a number of financial institutions, led by JP Morgan. As it became a household name, Dropbox struggled to stay ahead owing to the entry of more competitors into the market and some even going public. Its own efforts to sell cloud services to enterprises initially yielded lesser than expected revenues.

Since then, there have been speculations about when Dropbox would start raising funds from the public. Meanwhile, the company made significant changes in its business that began yielding results. As its selling attempts to larger enterprises started boosting revenue, the company went a step ahead and began building its own data centers to curtail its reliance towards Amazon’s cloud storage, hence cutting costs. The changes helped the company’s revenue grow. Dropbox, last year in June, declared that it was in no hurry to file an initial public offering and that with over $1 billion annualized earnings, it was “cash-flow positive.”

Despite its claims, sources believe that the company will be filing its IPO by the end of this year. With six banks backing Dropbox with the credit line, it is being expected that one of them would eventually underwrite its IPO.

Dropbox Opens a $600 Million Credit Facility to Gain Flexibility Ahead of its IPO Plans

What Dropbox's New Credit Line Means For Prospect Of An IPO
 
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