Dropbox Drops Valuation by $2.5 Bn Ahead of IPO
Dropbox, the file storage company, set proposed terms for its initial public offering. The company’s IPO owns 36 million shares on offer, 5.4 million as underwriter green-shoe offering, a $16-$18 per-share price range, a maximum initial sale of $648 million and a fully-cocked $745.2 million bill including the green-shoe shares. This puts the valuation of the company at around $7.5 billion ahead of its initial public offering, hence making Dropbox the biggest tech IPOs in the last few years. However, this figure is lower than the $ 10 billion valuation set by the company in 2014 when raising private capital.
This valuation will make the file storage company the largest U.S tech IPO since Snap Inc. made its stock debut in March 2017. The filings released by the company also revealed that ...