About 11 years after its incorporation, American file hosting service Dropbox, has filed for an IPO (Initial Public Offering), seeking to raise up to $500 million. In its filings, Dropbox revealed it incurred net losses of $111.7 million in 2017, down from $210.2 million in 2016. Dropbox was founded by Massachusetts Institute of Technology alumni Arash Ferdowsi and Drew Houston.