Dropbox prices IPO above range
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.