Dropbox may be taking another step in its very slow shuffle toward an IPO, and is now working with Goldman Sachs to prepare documents that could be filed as soon as this year, according to a report by Bloomberg.
The company is expected to hire Goldman Sachs as the lead advisor of the IPO process, according to the report. Getting another coveted “lead left” on the Dropbox IPO would be another feather in the cap for the bank, and another signal that Dropbox may finally start testing the waters of an initial public offering after years of uncertainty around its business. The company hit a $10 billion valuation riding a wave of euphoria around consumer startups earlier in the decade, but has since been frustrated by larger companies offering free file storage and sharing.
With its core consumer business rapidly approaching commoditization, Dropbox has had to differentiate itself with an additional portfolio of services and options. It’s started emphasizing its technology — specifically in terms of speed and simplicity — when observers have tried to…