March 22, 2018

Dropbox sets terms for $612 million IPO

12 March 2018, 06:40 | Cesar Cruz

Spotify last valued at $20 billion has a high bar to leap over when it holds its IPO

Spotify last valued at $20 billion has a high bar to leap over when it holds its IPO

Dropbox, which plans to raise US$648 million at the top end of the range, expects its debut price to be between US$16 and US$18 per share, the company said in a filing.

A series of funding rounds had valued Dropbox at US$10 billion, but investment bankers were doubtful about matching that valuation.

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

Dropbox aims to raise as much as $648 million (U.S.) in its USA initial public offering.

Dropbox also agreed to sell $100 million in stock to's venture capital arm in a private placement concurrent with the IPO, the filing shows.

AJ Styles vs. Shinsuke Nakamura official for WrestleMania 34
A loss at Fastlane forces Cena to think outside the box and turn his distraught, hopeless nature into something more productive. Carmella and Natalya battled Becky Lynch and Naomi and Rusev sought to celebrate Rusev Day at the expense of Shinsuke Nakamura.

This year has seen an early surge in public offerings with $8 billion of new stock sold in the January alone, the biggest month since Alibaba raised $25 billion in its September 2014 IPO, according to data compiled by Bloomberg.

The San Francisco-based company, which started as a free service to share and store photos, music and other large files, competes with much larger technology firms such as Alphabet's Google, Microsoft and Amazon as well as cloud-storage rival Box.

Dropbox company has touted its business as a path to unleashing creative energy and inspired work. It has more than 500 million registered users, including 11 million paying users. Last year the company grew revenues by 30% year over year but still lost $112 million, about half its 2016 loss and about a third of its 2015 loss.

Goldman Sachs Group, JPMorgan Chase & Co., Deutsche Bank AG and Allen & Co. are leading the offering.

The company filed for its initial public offering in February, saying it planned to trade on the Nasdaq under the ticker symbol DBX.

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