Dropbox reins in valuation goals with IPO target of $7 billion

12 March, 2018, 17:13 | Author: Sammy Rose
  • Dropbox reins in valuation goals with IPO target of $7 billion

The San Francisco, CA-based company plans to raise $612 million by offering 36 million shares (25% insider) at a price range of $16 to $18.

While the Class A shares have little voting power, they indicate the company values itself at about $8 billion -a bit less than the $10 billion level it touted in private funding efforts almost four years ago. The company also announced a $100 million private placement by Salesforce Ventures.

Dropbox, which quietly filed for the IPO in January, offers customers cloud-based web service for file storage.

Dropbox was founded in 2007 and booked $1.1 billion in sales for the 12 months ended December 31, 2017. That's lower than the $10 billion Dropbox was reportedly valued at on the private market. At the high end of its offering size, it'd be the third-biggest U.S. IPO from an enterprise technology company in the past three years, according to data compiled by Bloomberg.

Salesforce is also going to be a part of the initial offering. This will allow customers to create customised and branded folders in the two Salesforce cloud services, while the integration should allow a company to easily work with firms on the same platform.

Omerta Poster: Rajkummar Rao's Stuns As An Anti-Hero
While its trailer will be launched on March 14, the makers, for now, have shared the first official poster of Omerta . For both Raj and me, this film and Omar's character were a completely new territory - a journey into an evil mind.

Amazon.com, Inc. (AMZN) CEO Sells 250 Shares of Stock
Kornitzer Mgmt Inc Ks reported 35,502 shares or 0.6% of all its holdings. 33,940 are owned by Mason Street Ltd Liability Co. Cubist Systematic Strategies Limited Company holds 0.05% of its portfolio in Bunge Limited (NYSE:BG) for 12,814 shares.

Instagram & Snapchat remove Giphy integration due to sticker w/ racial slur
Other Facebook-owned platforms such as WhatsApp and Facebook Messenger are also supplied with GIFs by the same online database. A source tells TechCrunch the same racist GIF was spotted in Instagram as well, indicating that Giphy is at fault.

Chief Executive Officer and co-founder Drew Houston will hold 22 per cent of the shares outstanding after the offering, or 24 per cent of the voting power, according to the filing.

Dropbox became a leader in storing and sharing documents, photos and files online. While it claims to have 500 million users in 180 countries, it posted only 11 million paying clients at the end of previous year.

While the company is inching closer to profitability, Dropbox outlined in its deal prospectus its focus to get more of those users to pay up.

The company had 11 million paying users and over 500 million registered users on December 31, 2017-just over 2% of its registered users pay Dropbox for the service.

Dropbox will list on the Nasdaq under the stock ticker DBX. In the same period, the company's net losses shrank to US$112 million from US$210 million.


  • PLANET ALPHA coming to the Switch in 2018

    PLANET ALPHA coming to the Switch in 2018

    Development on Planet Alpha started in 2013 with Adrian Lazar working on the game solo in his spare time. Planet Alpha is heading to Xbox One , PS4, Nintendo Switch and PC in 2018.

    WWE Issues Statement On Jeff Hardy's Arrest

    The police report notes that Hardy totaled his 2016 Cadillac CTS-V with an estimated $8,000 in damages. The Team Xtreme member will deal with the repercussions from this alleged incident next month.
    Khloé Kardashian's extravagant baby shower is all about pink

    Khloé Kardashian's extravagant baby shower is all about pink

    Wishing Khloe and Tristian the best and hoping for a easy delivery of their baby girl , due sometime in April! Her baby daddy, Tristan, joined the clan of women in a Louis Vuitton denim jacket and a white tee.
  • Ronaldo Double Goal Gives Real Madrid Narrow Win Over Eibar

    Ronaldo Double Goal Gives Real Madrid Narrow Win Over Eibar

    Real Madrid will need Ronaldo in this sort of form in the coming weeks as well with Girona and Las Palmas next for Zidane's side. Ronaldo opened the scoring against the flow of play in the 34th minute when Luka Modric intercepted a pass and set him up.
    Cheaper 13-inch Retina MacBook Coming in June

    Cheaper 13-inch Retina MacBook Coming in June

    Crucially however, the rumoured MacBook is set to have a price closer to that of the current generation of 13-inch MacBook Airs. The report doesn't mention an actual launch date for the new laptop, but a WWDC 2018 launch certainly makes sense.
    European Union  extends sanctions against Russian Federation  for 6 more months

    European Union extends sanctions against Russian Federation for 6 more months

    Russia's annexation led Western powers, including the USA , to impose sanctions against Moscow. "They continue to apply to 150 persons and 38 entities", TASS cited the statement as saying.
  • Richard Sherman incentives 'too rich for Detroit's blood'

    Richard Sherman incentives 'too rich for Detroit's blood'

    Sherman agreed to a three-year, incentive-laden deal worth up to $39.15 million, the 49ers announced Sunday. In my former contract, no matter what I did this year, nothing would be guaranteed to me next year.
    Bose's AR glasses to focus on audio, rather than visuals

    Bose's AR glasses to focus on audio, rather than visuals

    We have seen AR Glasses from the likes of Google in the past that have not succeeded as they raised security and privacy issues. The glasses work in a way where it will recognize what you are looking at and use audio to augment it.
    McLaren Confirms Its Fastest Three-Seater Road Car Ever

    McLaren Confirms Its Fastest Three-Seater Road Car Ever

    The drivetrain will also be hybrid powered, likely making use of the 720S' twin-turbo 4.0-litre V8 paired to electric motors. There will only be 106 BP23s made - the same number of F1s produced - with each auto costing $2.82 million plus taxes.
  • Eddie and England honeymoon over: Woodward

    Eddie and England honeymoon over: Woodward

    This newspaper covered the pre-Six Nations statement that referees would allow greater licence to "jackalling" players. France , who had lost nine of their previous 11 Six Nations meetings against England , were well aware of this.

    Mexico says Nafta talks separate from Trump's tariffs policy

    He said, "As the President just announced, Canada is very significant partner that buys steel and sells steel". Mnuchin added that exemptions for specific products would be decided by Commerce Secretary Wilbur Ross.
    Asia, Middle East lead rising trends in arms imports

    Asia, Middle East lead rising trends in arms imports

    Earlier this year, the German government said it would stop approving arms exports to anyone participating in the war in Yemen . India's arms imports from the United States saw a more than six-fold jump.


Bhambri beats Mahut to enter second round
Pouille reduced the deficit by breaking Bhambri in the next game despite the Indian saving two break points in a lengthy game. That fact wasn't lost on Bhambri who punched the air in celebration and euphoria as Pouille's forehand sailed wide.

Jon Favreau is making a Star Wars series for Disney
Jon Favreau has signed on as executive producer and writer of a live-action Star Wars series for Disney's new streaming service. He directed the first two Iron Man films for Marvel and 2016's The Jungle Book , which won an academy award.

Frozen embryos lost: Calif. clinic admits failure, OH clinic faces lawsuit
Only the top layers in the tank were affected while samples at the bottom of the tank were not compromised. University Hospitals responded: 'We understand why some people might feel compelled to take this step.

Philips Hue smart lightning hits the garden with outdoor lamp options
The Calla bollard will retail for United States dollars 129.99 / Euro 139.99 as base unit pack. The products have a color temperature range of 2200-6500 Kelvin and feature 16 million colors.

Why the earth is not flat. Neil deGrasse Tyson destroys flat earthers
I can't find more than five people who dislike Neil deGrasse Tyson, but somehow, in the past 24 hours, that number has increased. In his video, Tyson answered questions posed by comedian Chuck Nice, who started it off by simply asking him if Earth is flat.

Twitter Reportedly Suspends a Ton of Accounts
The social media company has been working to cut down on spam and bots that spread tweets in order to make them viral. According to Verge, the new rules come after leaks that over 50,000 accounts linked to Russian backed organizations.

Assam Budget 2018-19: Himanta Biswa Sarma presents first e-Budget
This was announced by Finance Minister Himanta Sarma during the ongoing budget session today. The budget has made provision for paying Rs 5 lakh each to the kin.

Liverpool target Werner confirms wishes to stay at Leipzig
RB Leipzig forward Timo Werner has told Liverpool and Manchester United he won't sign for them this summer. Now the RB Leipzig forward has confirmed where his future lies.

Verizon LG V30 Android 8.0 Oreo Update Released
These are mid-range smartphones from Sony and recently Sony has confirmed the Android 8.0 Oreo update on these smartphones. Coming to the specifications, the smartphones feature a 5.2-inch HD display with a screen resolution of 1280 x 720 pixels.

Aj Styles Talks Potential WrestleMania Match With Shinsuke Nakamura
The match itself should be pretty damn good, but once again, this was hastily thrown together and has zero impact on the story. Charlotte will now defend her Smackdown women's championship against the Empress of Tomorrow at the "Showcase of Immortals".