Dropbox is inching closer to an IPO and is currently working with Goldman Sachs on the paperwork for an offering, Bloomberg reports.

The file hosting service, last valued at $10 billion in 2014, is close to hiring Goldman Sachs as a "lead adviser" for an IPO that could happen as early as this year, according to the report. 

Goldman Sachs declined to comment to Business Insider. Dropbox did not immediately respond to a request for comment.

It was reported in late June that Dropbox was in the market for underwriters, and was set to start interviewing investment banks in July. 

This post originally appeared on Business Insider.

Published on: Jul 28, 2017