Dropbox sets terms for $612 million IPO

Dropbox and Salesforce team up, integrations coming second half of 2018

Dropbox sees IPO price between $16 and $18 per share

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. The IPO value is less than its 2014 funding round, when it was valued at $10 billion. The company will sell $100 million worth of shares to Salesforce.com's venture arm at the same time of its IPO. It doesn't make any money; it lost $111.7 million on $1.11 billion in revenue past year, and revenue growth has been declining.

India's Inflation Eases In February
The inflation rate is in below expectations as a Reuters survey of 30 economists had predicted it to come at 4.80 per cent. This is led by a sharp correction in vegetable prices and continued disinflation in pulses.

Salesforce and Dropbox are expanding their strategic partnership, integrating the customer relationship management (CRM) software vendor's platform with the cloud storage vendor's collaboration platform. There are 19 pre-IPO decacorns at present and many are watching with bated breath to see how Dropbox will perform, particularly in the aftermath of Snap's IPO in March 2017 and the volatile results that followed.

DeMarco Murray: Visiting Lions
Murray was released by Tennessee last week, making him eligible to sign with another team right away. Free-agent running back DeMarco Murray is reportedly set to meet with the Detroit Lions on Monday.

Chief Executive Officer and co-founder Drew Houston will hold 22 per cent of the shares outstanding after the offering, or 24 per cent of the voting power, according to the filing. Sequoia Capital, one of Dropbox's early investors, will own a 21.1 per cent stake. Investors are sure to have questions for the file-sharing technology leader as it embarks on its marketing roadshow. Dropbox says it has more than 500 million registered users, with 11 million of those paying for added features. That's part of why Dropbox isn't yet profitable.

Is Earth Flat Or Round? Neil deGrasse Tyson Has The Answer
I can't find more than five people who dislike Neil deGrasse Tyson, but somehow, in the past 24 hours, that number has increased. If the Earth was disk-shaped, we would see a disk shape on the Moon during lunar eclipses, and this has never happened.

While Dropbox has not turned a profit since its 2007 founding, its revenue increased more 30 percent a year ago to $1.1 billion, up from $845 million in 2016. In the same period, the company's net losses shrank to US$112 million from US$210 million. Goldman Sachs, J.P. Morgan, Deutsche Bank, Allen & Company, BofA Merrill Lynch, RBC Capital Markets, Jefferies and Macquarie Capital are the joint bookrunners on the deal. The company has applied to list the Class A common stock on the Nasdaq Global Select Market under the symbol "DBX".

Latest News