Drew Houston, co-founder and chief executive officer of Dropbox, speaks during the Bloomberg Technology Conference in San Francisco, California, U.S., on Tuesday, June 14, 2016. The conference features companies and CEOs from around the world that are striving to be inventive and innovative, the institutions that spawn and support inventors, and the disruptive inventors themselves. Photographer: Tony Avelar/Bloomberg

ISSUE – Mar. 31 | Dropbox Secures $600 Million Credit Line Ahead of Expected IPO

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. [ Bloomberg ]

Breakdown of Dropbox Funding :

Date Amount / Round Valuation Lead Investor Investors
Mar, 2017 $600M / Debt Financing JP Morgan Chase & Co. 6
Apr, 2014 $500M / Debt JPMorgan Investment 1
Jan, 2014 $350M / Series C $10B BlackRock 7
Oct, 2011 $250M / Series B $4B Index Ventures 15
Nov, 2008 $6M / Series A Sequoia Capital 2
Sep, 2007 $1.2M / Seed 7
Jun, 2007 $15k / Seed 1