February 24, 2018, 3:50 PM

Top News

Anita Balakrishnan / CNBC:
Dropbox files for an IPO, says its 2017 revenues were $1.11B, up 31% YoY, losses were $111.7M, down from $210.2M in 2016; Dropbox now has 500M registered users  —  Cloud storage company Dropbox filed to raise $500 million in a public offering on Friday, giving investors a first look at the books …
Tom Krazit / GeekWire:
Dropbox has saved almost $75M since 2015 by moving from AWS to custom-designed infrastructure and software  —  After making the decision to roll its own infrastructure and reduce its dependence on Amazon Web Services, Dropbox reduced its operating costs by $74.6 million over the next two years …
More: CNBC and Business Insider
Tweets: @mjasay, @ywxwy, @pt, and @alistairmbarrThanks:@toddbishop
Ari Levy / CNBC:
Top five Dropbox shareholders: Drew Houston holds 25.3% stake, Sequoia has 23.2%, Arash Ferdowsi has 10.3%, Accel has 5%, and T. Rowe Price has 3.5%  —  - CEO Drew Houston and venture firm Sequoia Capital each own more than a 20 percent stake in Dropbox.  —  Dropbox has taken a very unconventional route to an IPO.
Dropbox gave 3 top execs stock worth $190M in 2017: CEO Drew Houston got $109.6M, co-founder Arash Ferdowsi got $46.7M, engineering VP Quentin Clark got $34.1M  —  Dropbox Inc. granted about $190 million in stock awards to three top executives last year as the file-sharing company prepared for an initial public offering.
U.S. Securities and Exchange Commission:
Dropbox, Inc. S-1 SEC filing for IPO  —  This is an initial public offering of shares of Class A common stock of Dropbox, Inc. Dropbox, Inc. is offering to sell shares of Class A common stock in this offering.  The selling stockholders identified in this prospectus are offering to sell an additional shares of Class A common stock.
Kerry Flynn / Mashable:
Facebook removes a VR shooting game called Bullet Train from the Oculus Rift demo at CPAC out of respect for the Parkland victims  —  Facebook pulled a demo of Bullet Train, a virtual reality game that lets players use an imaginary gun to pretend shoot people in a train station, at the 2018 Conservative Political Action Conference.
Evelyn Cheng / CNBC:
Bernstein analysts estimate that Bitmain made between $3B and $4B in operating profit in 2017 by selling bitcoin miners and mining cryptocurrencies  —  - Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, Bernstein analysts calculate …

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