Dropbox has to lower its IPO sights

Adjust Comment Print

Dropbox also agreed to sell $100 million worth of shares to Salesforce in a private placement concurrent with its IPO. At the midpoint of the proposed range, Dropbox would command a fully diluted market value of $7.6 billion. After the roadshow is complete, they will finalize the IPO price for the company's shares, using investor feedback on the price. Recently, Dropbox was given a $10 billion valuation by privates investors in a private funding round. Since then, companies have been more reserved. Including restricted stock units, that range is $6.7 billion to $7.6 billion.

Tech unicorn Dropbox moved closer to launching an initial public offering Monday as the provider of data management services outlined the terms of its deal.

Salesforce, which previously invested $5 million into the company, will own less than 5% of Dropbox's total shares. A spokeswoman for Dropbox declined to comment.

The market for initial offerings this year is already proving robust, with 29 IPOs having been held so far, up 61 percent from the same time last year, according to the advisory firm Renaissance Capital.

"The IPO is a slap in the face to investors of the 2014 round" of Dropbox, he added.

Bon Jovi is Honored with Icon Award at iHeartRadio Music Awards 2018!
Sometimes I think is ready sometimes I think it's not so I'm going to take my time till it's right", she tweeted. But it looks like the diva wasn't satisfied with her work and wanted to make it flawless . "These ain't it.

China seeks early US-N. Korea talks
Pyongyang's security concerns should be addressed in return for a pledge to denuclearize, he said. A new blueprint for cooperation between the two sides will be fostered this year.

North Carolina city releases documents beating
The FBI is investigating a North Carolina police officer for the bloody beating of a black man on foot he accused of jaywalking . In August 2017, Blavity reported on Johnnie Jermaine Rush , who was badly beaten by cops after being accused of jaywalking.

Dropbox's IPO is expected to be the largest technology offering since Snap went public past year. It plans to list on the Nasdaq under the symbol DBX.

Dropbox's chief competitor, Box, has been publicly traded since 2015.

The spring calendar for technology offerings is relatively busy, including cyber-security company Zscaler's planned debut later this week and music company Spotify's expected listing early next month.

"Dropbox's S-1 form Dropbox that it filed with the Securities and Exchange Commission showed that it lost $111 million on revenue of $1.1 billion previous year", said BI.

The company also announced a reverse stock split of 1.5:1 for its current private investors.