Published: Tue, March 13, 2018
Finance | By Jaime Brady

Dropbox and Salesforce to integrate cloud services

Dropbox and Salesforce to integrate cloud services

The file-sharing company is marketing 36 million shares of Class A common stock for $16 to $18 apiece, according to a filing with the U.S. Securities and Exchange Commission Monday.

Lots of companies would be thrilled with that valuation, but Dropbox is one of those rare "decacorns", valued at $10 billion during its last private financing round.

The Dropbox IPO will seek to raise. The company plans to list on Nasdaq Global Select Market under the symbol DBX.

The company's revenue increased more 30 percent past year to $1.1 billion from $845 million in 2016. The company has also received funds from Fidelity Investments, T. Rowe Price and JPMorgan & Chase Investment, totaling almost $600 million of funding, according to Crunchbase. After the roadshow is complete, they will finalize the IPO price for the company's shares, using investor feedback on the price.

Despite its progress and four years of growth, Dropbox's financial performance still does not justify its 2014 valuation, some investors say.

Mohammad Shami charged with domestic violence; FIR lodged by the cricketer's wife
He has been dropped from a list of contracted players unveiled by the Board of Control for Cricket in India . She also stated how he used to torture and abuse her after the recent South Africa tour of his.

'Living Will' Allowed With Strict Guidelines, Says Supreme Court
The plea sought declaration of the right to die with dignity as a Fundamental Right under Article 21 (Right to Life) of the Indian Constitution.

Fiji Beat Kenya To Win Canada Sevens
The five tournaments held thus far have produced five different winners - South Africa, New Zealand, Australia, Fiji and the US. France and Spain both progress to the Challenge Trophy quarter-finals, their end of day clash resulting in a 12-12 finish.

Cloud storage company Dropbox is the largest tech IPO after a protracted dry spell, and investors are carefully watching it for signs of how other highly valued tech companies will be received by the public markets.

"Dropbox will also add support for Quip documents, allowing joint users to work on Quip files that live in Dropbox, furthering Dropbox's effort to build a unified home for work", the companies said. In the same period, the company's net losses dropped by almost $100 million.

The company reported $1.17 billion in revenue in 2017, a 31 percent jump from 2016.

Monday's filing preceded Dropbox's road show to pitch its offering to potential investors.

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

Like this: