The move by the popular cloud storage company makes sense, as upbeat equity. The company’s roadshow, where executives and bankers will market the deal to investors, begins on Monday with meetings in New York and in Boston later this week.ĭropbox’s shares are scheduled to begin trading late next week and will be listed on the tech-heavy Nasdaq exchange under the symbol DBX. Dropbox priced its IPO at 21, raising a total of 756 million in its IPO (though one-third of the shares were sold by existing shareholders). Dropbox filed for an IPO with the SEC late last week, with the intention of being listed on NASDAQ under the ticker DBX. Salesforce, a cloud computing company, is an investor in Dropbox and the two have a strategic partnership. The company filing also revealed that the corporate investment group of will buy $100m shares in a private placement. Dropbox is selling Class A shares to the public which will represent 2% of the vote while the Class B shares held by the founders and early investors will account for 98% of votes. As has become common with tech IPOs two classes of shares are being issued. defied a plunging stock market and a hazardous backdrop for technology companies, pricing its IPO above expectations an hour after a 724-point selloff and then watching its shares. The pair, along with investors Sequoia Capital and T Rowe Price, will keep control of the company even after the sale. Ferdowsi, 32, owns about 10% of the company. Houston, 35, is the company’s CEO and largest shareholder with a stake of about 25%. It was founded in 2007 by MIT computer science students Drew Houston and Arash Ferdowsi. That sale has worried investors – its share price is now slightly higher than its $17 IPO price after reaching a high of $27.ĭropbox, which is used by more than 500 million people, allows users to share and collaborate on files stored online. Going public is a huge milestone for Dropbox and has been one of the most anticipated tech IPOs for several years now. For the San Francisco-based company, parting with the additional shares means it has raised a total of 869 million in the IPO. The sale will be the largest since Snap Inc, owner of the Snapchat app, made its stock market debut in March 2017. It’s official, the Dropbox IPO filing is here. Underwriters have exercised their option to purchase another 5.4 million shares at the original IPO price of 21 per sharea smart decision, given that shares of Dropbox (NASDAQ: DBX) closed at 30.85 on Wednesday. Tech news site TechCrunch lists 279 unicorns with a total valuation of $1tn. Airbnb, valued at $30bn, recently moved to tamp down expectations that it will go public this year but still looks set to start the sale process in the near future. Uber, valued at $48bn last year, is considering going public in 2019. It is likely to be valued at more than $20bn. Dropbox was founded in 2007 (originally named Evenflow) as an easy-to-use consumer cloud storage product the company describes the. The company will trade under the ticker DBX on the Nasdaq. Another unicorn – music streaming service Spotify – also plans to go public soon but has eschewed the IPO route and will sell its shares directly to the public. Dropbox, the leading cloud storage and collaboration platform, filed for a 500M IPO with Goldman Sachs leading the offering.
0 kommentar(er)
