Dropbox has secretly filed to go public in the first half of this year, according to a Thursday Bloomberg report.

The cloud company, last valued at $10 billion, hired Goldman Sachs and J.P. Morgan to handle the U.S. offering, according to Bloomberg.

Dropbox was not immediately available to comment on the report.

With annualized sales of more than $1 billion, Dropbox has long been considered a hot IPO prospect on Wall Street, and Goldman and J.P. Morgan were said to be in the running for the deal as early as July 2017, Bloomberg earlier reported.

The data storage company has become an entrepreneurship case study on the success of the “freemium” model in straddling consumer and enterprise markets. But it is not without competition, as more and more companies have entered the file-sharing market since Dropbox’s founding in 2006.

Box, a similar company with a focus on the enterprise market, saw shares rise 3.5 percent on Thursday around the time the Dropbox IPO was reported.

For more on the IPO, see the full report at Bloomberg.com.