America, Billionaire, Deal Makers, Financial, Global Investment, Investment Bankers, News, Private Equity, Technology

Dropbox Inc Stock Rises 35% to $12 Billion Market Value at IPO

Dropbox Inc Stock Rises 35% to $12 Billion Market Value at IPO

Dropbox Inc., the file storage company saw its stock price rising 35.62% ($28.48) to more than $12 billion market valuation at IPO.  The IPO was priced at $21, raising $756 million for the company which has more than 500 million users in 180 countries.

” Dropbox Soared 35% at IPO to $12 Billion Market Value “

In 2016, the revenue increased from $845 million (2015) to $1.1 billion while company net loss reduced from $210 million (2015) to $112 million.  Prior to IPO, Dropbox and Salesforce have announced a partnership to integrate and sell Sales force solutions with Dropbox tools, and Dropbox agreed to sell $100 million of stocks to salesforce.com Inc venture capital unit.

The lead underwriters are Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG, Bank of America Merrill Lynch and Allen & Co.  Dropbox is listed on Nasdaq Global Select Market under the symbol DBX.  Dropbox co-founder and Chief Executive Officer Andrew Houston have a 24% stake and Venture capital firm Sequoia Capital have about 25% stake in the company.

Sources: Bloomberg, Reuters, NASDAQ

Video:

 

About Dropbox 

Dropbox is a leading global collaboration platform that’s transforming the way people and teams work together. With more than 500 million registered users across 180 countries, we’re on a mission to unleash the world’s creative energy by designing a more enlightened way of working. Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world.

Visit: Dropbox

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency
Previous ArticleNext Article