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Dropbox IPO Values Company at Over $11 Billion

posted by mrpg on Monday March 26 2018, @02:00PM   Printer-friendly
from the wtf dept.

takyon writes:

Dropbox Shares Leap in I.P.O., and Silicon Valley Smiles

Dropbox, the file-sharing company and Silicon Valley darling, had a strong market debut Friday, a reassuring sign for the technology industry and for the investors who have billions locked up in other highly valued but privately held start-ups.

Shares of San Francisco-based Dropbox soared above $30 shortly after trading in the stock opened Friday morning. That was 45 percent higher than the $21-per-share price at which the company sold 36 million shares on Thursday night. The initial public offering valued Dropbox at $9.2 billion.

[...] Founded in 2007 by two Massachusetts Institute of Technology computer science students, Drew Houston and Arash Ferdowsi, Dropbox has never turned an annual profit, despite strong sales growth.

Dropbox.

Also at Bloomberg, TechCrunch, and CNBC.

Original Submission

 
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  • (Score: -1, Troll) by Anonymous Coward on Monday March 26 2018, @02:48PM (3 children)

    by Anonymous Coward on Monday March 26 2018, @02:48PM (#658452)

    Oh no, people having freedom to spend money, in a badwrong way, especially bad investments!

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  • (Score: 0) by Anonymous Coward on Monday March 26 2018, @04:41PM (2 children)

    by Anonymous Coward on Monday March 26 2018, @04:41PM (#658510)

    Ha, Ha! Exactly!

    Why do people think that the stock market should always only rise (and that only the long side of a trade should be successful)? If it only rose, there would be no sellers. Likewise, if it only sunk, there would be no buyers.

    Either way (with nobody buying nor selling), the market would be flat.

    Folks, there has to be ups and downs in the markets (including crashes), otherwise, there is no reason to invest!

    • (Score: 1) by khallow on Monday March 26 2018, @05:01PM

      by khallow (3766) Subscriber Badge on Monday March 26 2018, @05:01PM (#658520) Journal

      If it only rose, there would be no sellers.

      Even if that were true, there's always somewhere else to put money, like retirement expenses or a house.

      And a good portion of the shuffling is because people have differing opinions of the relative value of stocks and other investments. Selling one stock and buying a second with the proceeds is a very common move.

    • (Score: 2, Interesting) by Anonymous Coward on Monday March 26 2018, @05:30PM

      by Anonymous Coward on Monday March 26 2018, @05:30PM (#658545)

      If it only rose, there would be no sellers. Likewise, if it only sunk, there would be no buyers

      Even if it always rose, eventually there would be sellers who want to turn the stock into cash to buy something.
      Even if it always sunk, as long as it doesn't sink as fast as other investments, there would be buyers who want a slower rate of decay.