The new price range suggests the company, co-founded by Andrew Houston and Arash Ferdowsi in 2007, could have a market capitalization of up to $8.7 billion based on a fully diluted share count and the IPO could raise up to $720 million. Here's Statista's chart of how the Dropbox IPO compares to other high-profile tech IPOs since 2011. By the end of trading on Friday, shares closed at $28.42, marking a gain of more than 35% over the IPO price, even as the wider USA stock market slid.
Dropbox reported revenue of $1.11 billion in 2017, up 32 percent from a year earlier.
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The tech company declared itself cash-flow positive in 2016. The stock has increased more than sixfold since the IPO, giving the company a market value of about $22 billion. The company up until this week has been supported by private investors including Sequoia Capital and Accel Partners.
The company's stock market debut is the first big technology float since Snap, the company behind the Snapchat messaging app, went public a year ago. Dropbox shares ended the regular session up 35.6% to close at 28.48 on the stock market today. Glaser characterized Dropbox in its current form as more of a commoditized, consumer-focused company than a competitor like Box, which specializes in enterprise storage. Its losses have narrowed to $112 million previous year from $326 million in 2015, and the company says it is moving toward becoming profitable.
Storing digital data from music and films to documents, presentations and images has become big business with the lifestyle shift to accessing content and services online.
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While DropBox has revealed the total user count and the number of paying customers, many competitors don't reveal how many premium customers they have.
"If investors had bought Dropbox stock within the last six months, they'd be up over 75 percent".
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