Dropbox is seeking a $7.5 billion valuation in its coming IPO

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The midpoint of those pricing estimates would value the company at $7.5 billion.

The valuation, on a fully diluted basis, is about 20% below the $10-billion level the company achieved in its latest private funding round in 2014. The valuation as calculated from the filing is around $6.7 billion. Investors wanting to get their hands on the next big thing piled into these so-called unicorns in recent years, helping drive up valuations. Last week, the companies announced a partnership to integrate and sell Salesforce's customer relationship management technology with Dropbox's storage and collaboration tools.

The venture capital arm of Salesforce.com Inc has agreed to buy US$100 million of Dropbox's Class A common stock in a private placement at a price per share equal to the IPO.

The expected price range is $16 to $18 per share, which means the company could raise a total of $612 million. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX), may have investments in securities of companies mentioned. Existing shareholders, including founders Drew Houston and Arash Ferdowsi, will offer another 9.2 million shares for sale, and the underwriters have an over-allotment option for 5.4 million more shares.

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The pair started Dropbox in 2007.

Dropbox company has touted its business as a path to unleashing creative energy and inspired work.

Dropbox claims more than 500 million users in more than 180 countries, but the less-good news is that only about 11 million are paying for the privilege. The company said it generates average revenue of $111.91 per paying user. It doesn't make any money; it lost $111.7 million on $1.11 billion in revenue a year ago, and revenue growth has been declining. In the same period, the company's net losses shrank to $112 million from $210 million.

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