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

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: 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.