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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.
Also at Bloomberg, TechCrunch, and CNBC.
(Score: 2) by bob_super on Monday March 26 2018, @06:29PM (1 child)
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
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.