Dropbox is seeking a $US7.5 billion valuation in its coming IPO

Drew Angerer/Getty ImagesDrew Houston, the founder and CEO of Dropbox, at the annual Allen & Company Sun Valley Conference in 2016 in Sun Valley, Idaho.

Dropbox has announced plans to list 36 million shares when it goes public later this year.

The company estimated in a filing on Monday that each of those shares would cost $US16 to $US18. That means the company is seeking to raise up to $US648 million, or £467 million, from its public listing.

The midpoint of those pricing estimates would value the company at $US7.5 billion.

Additionally, the document filed by Dropbox said Salesforce’s ventures arm, Salesforce Ventures, had agreed to buy $US100 million worth of Dropbox stock.

The company filed for its initial public offering in February, saying it planned to trade on the Nasdaq under the ticker symbol DBX.

The S-1 form that Dropbox filed with the Securities and Exchange Commission showed that the company lost $US111 million on revenue of $US1.1 billion last year.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.