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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.

Axios 11 hours ago
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Ina Fried 9 hours ago
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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.