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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.

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  • (Score: 3, Funny) by khallow on Monday March 26 2018, @04:53PM (1 child)

    by khallow (3766) Subscriber Badge on Monday March 26 2018, @04:53PM (#658518) Journal
    khallow stumbles up to the podium clutching some scraps of paper. After briefly shuffling them about and pushing the cup of water to one side, he begins:

    "I have many fond memories of my dealing with John Scully. *cough* He was quite the class act. His death saddens me to no end. *takes drink of water*

    ...wait, my intern is trying to tell me something...

    What do you mean he's still alive!? And that's him in the third row?

    ... ... ...

    Well, can we FIX that? I have my hotel pillow. It'll only take a minute.

    Starting Score:    1  point
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  • (Score: 0) by Anonymous Coward on Tuesday March 27 2018, @04:16AM

    by Anonymous Coward on Tuesday March 27 2018, @04:16AM (#658812)

    of a bunch of the people he's no doubt be responsible in helping get fired or laid off during downsizing events and you might not have to run back to your room for that pillow :)

    If only we could do that with more executive types.