Dropbox Opening 600M Credit Line Potentially Ready For Ipo This Year

Dropbox is expected to close on a new $600M credit line as soon as Monday as expectations grow that the successful startup may be ready for an IPO this year.

A Bloomberg report shares that the new credit line will be coming from JPMorgan Chase & Co. and five other banks. People close to the matter said the increased financial resources will give Dropbox flexibility as it considers an IPO, which the established startup may be ready for by the end of this year.

However, Dropbox may take its time after considering its performance, finances, and noting IPO’s such as its competitor Box Inc.:

Dropbox is nearing profitability and most recently had an annual revenue of $1B.