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.
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(Score: 0) by Anonymous Coward on Monday March 26 2018, @05:35PM (3 children)
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)
You don't detect sarcasm very well, do you?
(Score: 0) by Anonymous Coward on Monday March 26 2018, @08:58PM
(Score: 1) by fritsd on Tuesday March 27 2018, @03:41PM
Um, actually, I wasn't being sarcastic for a change; I really had no idea about Dropbox.