Dropbox Announces Conditions for IPO

Mae Love
March 12, 2018

Dropbox also revealed that it had sold $100 million worth of stock to Salesforce Ventures in a private transaction.

The IPO pricing values the company at between $7 billion and almost $8 billion when you factor in restricted stock units - making it the biggest tech IPO since Snap a year ago, but still falling well below the $10 billion valuation that Dropbox crept up to back in 2014 when it raised $350 million in venture funding. Instead, the company's shareholders will most likely see the value of their shares fall when Dropbox, under ticker symbol DBX, begins trading on the Nasdaq.

According to data compiled by Bloomberg, Dropbox would be the third-biggest IPO from an enterprise technology company in the last three years and the largest tech offering since Snap's IPO last year. Today, Dropbox has more than 500 million users in more than 180 countries. 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.

Dropbox was founded in 2007 and booked $1.1 billion in sales for the 12 months ended December 31, 2017.

'Vengeful' Richard Sherman relishes playing Seahawks twice a year
Shead tore his ACL in Seattle's playoff loss to the Falcons in 2017 and only played in two games a year ago . Sherman agreed to a three-year, incentive-laden deal worth up to $39.15 million, the 49ers announced Sunday.

Trump may exempt more countries from tariffs: Treasury's Mnuchin
Trump suggested before he signed the orders imposing the tariffs that Australia and "other countries" could also be exempted. White House spokesperson Sarah Sanders said earlier the details would be made known by the end of this week.

Tomb Raider 1-3 Remasters Coming to PC
Check out the two progress videos below to see how Realtech VR has done with the first two Tomb Raider games. However there is no mention of how much the remasters will cost for those who did not purchase the original.

The company's net loss narrowed to US$111.7 million in 2017 from US$210.2 million in 2016.

Dropbox, the service once derided by Steve Jobs as merely a feature, but which has achieved stunning storage success while adding ever more features, benefits and strategic partnerships of its own, has done a deal with superlative CRM provider Salesforce.

Additionally, Salesforce Ventures, Salesforce's corporate investment group, "has been an investor in Dropbox since 2014", so clearly the collaboration and synergy is at a much deeper level than the usual partnership announcement.

Other reports by

Discuss This Article