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Dropbox on Thursday night raised $756 million in its IPO, pricing shares at $21 (above its upwardly-revised range). This would give the file storage and sharing company a fully-diluted market value of around $9.23 billion, which is lower than where it was last valued by private-market investors.

Dropbox will begin trading on the NASDAQ tomorrow under ticker symbol DBX.

Why it matters: This is the highest-profile consumer tech listing since Snap early last year, although we'll also be getting Spotify in early April.

Dropbox prices IPO above range

Valuation is slightly below last private market investment.

Photo: Jaap Arriens/NurPhoto via Getty Images

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Dropbox (service)

Technology

Dropbox on Thursday night raised $756 million in its IPO, pricing shares at $21 (above its upwardly-revised range). This would give the file storage and sharing company a fully-diluted market value of around $9.23 billion, which is lower than where it was last valued by private-market investors.<ul><li>Dropbox will begin trading on the NASDAQ tomorrow under ticker symbol DBX.</li></ul>Why it matters: This is the highest-profile consumer tech listing since Snap early last year, although we&#x27;ll also be getting Spotify in early April.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Dropbox prices IPO above range

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