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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 All Your Lawn Are Belong To Us on Monday March 26 2018, @10:41PM
... Will they turn a profit, eventually? More important: Will they stay viable and will the amount laid down for them be worth more tomorrow?
That they haven't turned a profit yet is not terribly relevant to the investor. Ask Jeff Bezos. 20 years ago Amazon was an IPO that wasn't profitable at the time and Bezos didn't seem to have any plans to make it profitable in the immediate future. There are some that say it still isn't [seekingalpha.com]. Forbes (which I don't go to but read the Google summary) has a similar position - they haven't posted all that many profitable quarters given their existence. Yet they IPO'd at $18 and are close to $1,100 now and I don't think anybody believes they are going anywhere soon.
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