Abril 20, 2018

Dropbox shares surge as much as 50 percent on first day

24 Marcha 2018, 02:33 | Dolorita Barahona

Dropbox price IPO at $21 and lures investors

Dropbox Hasn't Built a Moat

The company originally expected to price the stock in the range of $16 to $18 per share, although this was raised to $18 to $20, and eventually priced at $21, above both ranges. That money will be needed to compete in the cloud storage space, which is only getting more competitive as tech giants engage in an ongoing cloud pricing war that has been raging for years.

In what is expected to be the largest IPO this year, China video-streaming company iQiyi plans to raise $2.25 billion by offering 125 million American depository shares at a price range of 17 to 19.

Sources told Reuters on Monday that the offering was oversubscribed.

The offering gave the company an initial market value of more than $8 billion.

Newly minted tech companies are a dime a dozen.

Feinstein says the company will do that by focusing on building products "that can really, significantly improve our customers' human experience at work - how they work together, how they collaborate, how they create". If the first day is any indication, it looks like that strategy worked. However, the cloud storage landscape is still white for Dropbox. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic. (NYSE: GS) and JPMorgan Chase & Co. That's right - they think these 10 stocks are even better buys. The question, however, is whether Dropbox will end up behaving as SNAP has, ultimately puttering out and hovering at or below its IPO price. As billions of dollars of private funding have driven up the valuations of technology companies, concerns about not living up to those metrics have helped slow the U.S. IPO pipeline. Ergo, the company is already worth less than insiders thought it was a few years ago. They include some of the highest-profile young companies in American business - names such as Uber, Airbnb and Elon Musk's SpaceX. If you lost out when the markets crashed in 2008, then you are going to want to see this special presentation... "In fact, with this enterprise offering, organizations can pursue broad user acceptance, particularly when users are familiar with Dropbox's service as a personal tool and [are] accustomed to working with it". This compares to $845 million in revenue the year before and $604 million for 2015.

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