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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: 3, Funny) by fritsd on Monday March 26 2018, @04:37PM (6 children)

    by fritsd (4586) on Monday March 26 2018, @04:37PM (#658507) Journal

    I just wanted to say thanks to the Soylentnews editors (or maybe the submitter) for including a link to the Dropbox Wikipedia article.

    Because I didn't really know what Dropbox does or is.

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  • (Score: 0) by Anonymous Coward on Monday March 26 2018, @05:35PM (3 children)

    by Anonymous Coward on Monday March 26 2018, @05:35PM (#658548)

    It is popular in the US for some reason to share photos or whatever. Kind of like FreeDrive back in the 2000 bubble. Haven't seen many pirate links point to Dropbox though.

    It's not like they don't have competitors either; Box IPOd in 2015 and was valued at $1.6b.

    • (Score: 1, Informative) by Anonymous Coward on Monday March 26 2018, @05:41PM (2 children)

      by Anonymous Coward on Monday March 26 2018, @05:41PM (#658557)

      You don't detect sarcasm very well, do you?

      • (Score: 0) by Anonymous Coward on Monday March 26 2018, @08:58PM

        by Anonymous Coward on Monday March 26 2018, @08:58PM (#658656)
        Please reveal the clues.

      • (Score: 1) by fritsd on Tuesday March 27 2018, @03:41PM

        by fritsd (4586) on Tuesday March 27 2018, @03:41PM (#659014) Journal

        Um, actually, I wasn't being sarcastic for a change; I really had no idea about Dropbox.

  • (Score: 2) by bob_super on Monday March 26 2018, @06:29PM (1 child)

    by bob_super (1357) on Monday March 26 2018, @06:29PM (#658578)

    Since the topic was IPO, the link should have been to the stock ticker, as is customary for Serious Papers. Those people who genuinely don't know the company, get to decide if they like the stock variation over the last 30 minutes, before they actually waste time figuring out what the company allegedly does.

    • (Score: 2) by mmcmonster on Monday March 26 2018, @09:23PM

      by mmcmonster (401) on Monday March 26 2018, @09:23PM (#658669)

      If you're a serious investor you either already know the ticker, or should just put your money in a low expense ratio Total Stock Market index fund such as VTSAX or similar.

      The gambler goes for the ticker. The one who wants the sure thing (in the long run) goes for VTSAX.