Stories

SaveSave story

Dropbox prices IPO above range

Photo: Jaap Arriens/NurPhoto via Getty Images

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.

Plus box
Business
Axios 11 hours ago
SaveSave story
Featured

Axios situational awareness

📱Qualcomm confirms it is in the midst of layoffs — Trump says he will leave NK meeting if it's not productive — 📦 Amazon Prime has 100 million members — 🚨 Teens scared of shootings at school

Sign up for Mike Allen's Axios AM

Plus box
Politics
Ina Fried 9 hours ago
SaveSave story

Intel is giving up on its smart glasses effort

Intel CEO Brian Krzanich
Intel CEO Brian Krzanich. Photo: Intel

Intel said Wednesday night that it is halting work on its augmented reality glasses, confirming a report from The Information

Why it matters: Under CEO Brian Krzanich, Intel has looked to move beyond its computer chip roots and explore areas including VR, AR, wearables and chips for small electronics. However, many of these efforts have been shuttered with few or no products making it to market.

Plus box
Technology