Not now: That’s the message from Dropbox about going public.
Dennis Woodside, COO of Dropbox, tells Fortune’s Susie Gharib that the company is in no hurry to go public. “We’re focused on building the business,” he says.
Dropbox has been building and growing fast since Drew Houston founded the San Francisco cloud-storage company nearly 10 years ago. It has half a billion customers, both consumers and large businesses, and is currently valued around $10 billion—more than many public companies.
Woodside says getting profitable is “absolutely important,” but points out that the company just recently hit another milestone. It is now cash-flow positive, which means it’s “…adding cash to the business…not spending investor-funded cash.”