Spotify last valued at $20 billion has a high bar to leap over when it holds its IPO
Dropbox, the provider of a cloud-based platform that enables users to store and share content, said in a new S-1 filing that it plans to sell 36 million Class A shares at $16 to $18 apiece.
According to a Bloomberg calculation, the transaction would value Dropbox at US$7.1 billion, less than its US$10 billion value during a prior private capital raising effort in 2014.
Monday's SEC filing, which also mentioned the sale of $100 million in stock to the venture capital division of Salesforce.com, begins a period in which bankers and Dropbox executives will market shares.
Dropbox Inc.is offering to sell about 26.82 million shares of Class A common stock in initial public offering. The company's revenue was $603.8 million, $844.8 million, and $1,106.8 million in 2015, 2016, and 2017, respectively, representing an annual growth rate of 40% and 31%, respectively. The two companies also announced a significant integration pact that would link both of their platforms closer together for joint customers - primary integrations would centre around creating two-way access between Salesforce products: Commerce Cloud, Marketing Cloud, Quip and Dropbox itself.
The pair started Dropbox in 2007.
Jeff Hardy Arrested For DWI After Traffic Incident
According to PWInsider , Matt recently taped a long-awaited "Ultimate Deletion" match with Bray Wyatt at his North Carolina home. Jeff was reportedly tested for alcohol, but as of this writing results for the test are still pending.
MacBook Air 2018 Will Come With LG-Made Retina Displays
As for the assembly, Quanta Computer obtains 70% of the orders and Foxconn Electronics (Hon Hai Precision Industry) 30%. However, the new notebook would have a much more higher resolution than the MacBook Air's current 1440 x 900.
DeVos struggles to answer basic questions about schools in her home state
Asked if creating a panel on making schools safer is more talk than action, she said, "No, there is a sense of urgency, indeed". Teachers began tweeting photos of what their classrooms actually look like at the education secretary.
Dropbox company has touted its business as a path to unleashing creative energy and inspired work.
According to Nasdaq, there has been a major rise in what it calls "decacorn" companies, or firms valued at more than $10bn moving up the ranks. Investors are sure to have questions for the file-sharing technology leader as it embarks on its marketing roadshow.
The company had 11 million paying users and over 500 million registered users on December 31, 2017-just over 2% of its registered users pay Dropbox for the service. In the same period, the company's net losses dropped by almost $100 million. While it claims to have 500 million users in 180 countries, it posted only 11 million paying clients at the end of a year ago.
Goldman Sachs & Co, JPMorgan, Deutsche Bank Securities, BofA Merrill Lynch are the lead underwriters for the public offer.
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