The IPO will be a key test of Dropbox's worth after it was valued at nearly $10 billion in a private fundraising round in 2014. At the midpoint of the proposed range, Dropbox would command a fully diluted market value of $7.6 billion.
In addition to the IPO, Dropbox announced a $100 million private placement with Salesforce Ventures, the venture capital arm of Salesforce.com Inc.
Dropbox, which was valued at $10 billion in its 2014 funding round, would be one of the biggest US enterprise technology companies to list domestically in several years.
This year has seen an early surge in public offerings with $8 billion of new stock sold in the U.S.in January alone, the biggest month since Alibaba raised $25 billion in its September 2014 IPO, according to data compiled by Bloomberg.
Dropbox also will reverse-split the current shares outstanding to inside investors at a ratio of 1.5 to 1.
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Dropbox company has touted its business as a path to unleashing creative energy and inspired work.
Dropbox, which has 11 million paying users across 180 countries, said that about half of its 2017 revenue came from customers outside the United States.
While the company is inching closer to profitability, Dropbox outlined in its deal prospectus its focus to get more of those users to pay up.
The company's revenue increased more 30 percent previous year to $1.1 billion from $845 million in 2016.
The company's net loss narrowed to US$111.7 million in 2017 from US$210.2 million in 2016.
The company filed for its initial public offering in February, saying it planned to trade on the Nasdaq under the ticker symbol DBX.