On Friday, data-sharing business Dropbox Inc filed for an initial public offering of up to $500 million with the U.S. Securities and Exchange Commission.
The company said it plans to have its common stock listed on the Nasdaq under the ticker symbol "DBX".
Dropbox started as a free service to share and store photos, music and other large files. It is facing heated competition from technology giants including Alphabet Inc’s Google, Microsoft Corp and Amazon.com Inc.
Dropbox reported 2017 revenue of $1.11 billion.