Saturday, 21 April, 2018

Dropbox aims to raise $648m in forthcoming IPO

Drew Houston founder and chief executive officer of Dropbox attends the annual Allen & Company Sun Valley Conference Dropbox sees IPO price between $16 and $18 per share
Preston Stone | 12 March, 2018, 18:42

Cloud-based storage and data sharing unicorn Dropbox has filed an amended Form S1 with the U.S. Securities and Exchange Commission (SEC) setting terms for the company's initial public offering (IPO).

Silicon Valley darling Dropbox is aiming to go public at a valuation well below the $10 billion it clocked in its last private funding round, despite posting healthy revenue growth and turning cash-flow positive in the intervening four years.

Dropbox plans to sell 36 million Class A common shares, including 9.18 million by selling shareholders. Including restricted stock units, the valuation would be about $7.6 billion.

Dropbox aims to raise as much as $648 million (U.S.) in its US initial public offering.

The company is one of a class of well-funded, closely-watched technology companies that have achieved a private valuation of more than $1 billion.

Hubert de Givenchy, famed French couturier, dies at 91
The company was acquired by luxury retail giant LVMH in 1989 but Givenchy designed for the brand until his retirement in 1995. The designer's nephews and nieces, and their children, share Mr Venet's grief, his statement added.

Drew Houston, the founder and CEO of Dropbox, at the annual Allen & Company Sun Valley Conference in 2016 in Sun Valley, Idaho.

Dropbox will probably not initially be loved on public markets as much as it was by venture capitalists.

Dropbox, which was valued at $10 billion in its 2014 funding round, would be one of the biggest USA enterprise technology companies to list domestically in several years. The company will sell $100 million worth of shares to Salesforce.com's venture arm at the same time of its IPO.

Meanwhile, Dropbox said it now has 11 million paying users, which is far less than the 500 million registered users who access its services for free.

The S-1 form that Dropbox filed with the Securities and Exchange Commission showed that the company lost $111 million on revenue of $1.1 billion previous year. And cozying up to Salesforce.com is hedge in the event things don't work out as planned.

Recommended

Jeff Hardy involved in single-car crash, charged with driving while intoxicated Jeff Hardy involved in single-car crash, charged with driving while intoxicated He spent 10 days in jail in 2011 after pleading guilty to the charges. " Jeff Hardy is responsible for his own personal actions". TMZ.com reports that Hardy agreed to a breathalyzer and blew a.25, which is three times more than the legal limit.

Kylie Just Answered All Yr Burnin' Qns About Baby Stormi On Twitter Kylie Just Answered All Yr Burnin' Qns About Baby Stormi On Twitter The new mom also shared a common concern, writing, "Omg can't wait to watch her grow but don't want her to at the same time! ". Kris Jenner has finally opened up about to how they were able to keep Kylie Jenner's pregnancy a secret.

One of Lloyd Blankfein's heir apparents just unexpectedly retired One of Lloyd Blankfein's heir apparents just unexpectedly retired Before his current role, he co-headed the investment banking division and served as the global head of the financing group. The firm's fixed-income trading business, which produced Schwartz, is coming off its worst year in more than a decade.

Authorities arrest North Carolina man in 1986 MA murder Authorities arrest North Carolina man in 1986 MA  murder Authorities would later say Tracy had been brutally murdered, the cause of death most likely from a massive blow to the head. A neighbor recalled hearing what sounded like a scream and a vehicle squealing away on the night of Gilpin's disappearance.

Rex Tillerson cuts short Africa trip to return to Washington Rex Tillerson cuts short Africa trip to return to Washington Ambassador to Kenya Bob Godec and Kenyan Health Minister Sicily Kariuki would attend events on Saturday morning. He is to return to Washington about one day ahead of schedule " to deal with urgent work there".

Six Nations 2018: England's Jonny May makes big admission after France defeat England coughed up 16 penalties against next year's World Cup group opponents, the majority at the breakdown. But is the domestic league on the wrong track? For Italy this was a 16th successive Six Nations loss.

Sir William Henry Perkin Google Logo Sir William Henry Perkin Google Logo Google Doodle is remembering British chemist Sir William Henry Perkin with a bright coloured sketch doodle on his 180th birthday. The Google Doodle has been designed by UK-based illustrator Sonny Ross , who has given the doodle a mauve or violet hue.

Seoul: North Korean 'Caution' Seen in Announcing Stance on Upcoming Summits Seoul: North Korean 'Caution' Seen in Announcing Stance on Upcoming Summits National Security Adviser Chung Eui-yong arrived in Beijing on Monday morning and met with Chinese State Councilor Yang Jiechi.

JAY Z And Beyoncé Announce 'On The Run II' Tour JAY Z And Beyoncé Announce 'On The Run II' Tour When do tickets go on sale? Pre-sale begins this Wednesday, March 14 at 9 am local time in America and 10 am local time in Europe. An errant Ticketmaster posting last week hinted at plans for a sequel to Beyoncé and Jay-Z's co-headlining On The Run Tour .

Sir Ken Dodd dies aged 90, two days after marriage Sir Ken Dodd dies aged 90, two days after marriage Did you meet or work with Dodd? Born the son of a coal merchant in 1927, Dodd began his career as a comedian in 1954. Sir Ken Dodd - master of tickling sticks, Diddy Men and tattifilarious comedy - has died, his publicist has said.

Paranormal … Alexa - Amazon's digital assistant laughs and spreads fear to its users! Paranormal … Alexa - Amazon's digital assistant laughs and spreads fear to its users! Obviously you can't make a video call to a regular Echo, but that should be obvious seeing as how it doesn't have a camera. Last year Amazon added the Alexa calling feature to Echo devices, essentially turning your smart speaker into a phone.

Myanmar building military bases where Rohingya homes, mosques once stood: Amnesty Myanmar building military bases where Rohingya homes, mosques once stood: Amnesty Though admitting the images only paint a partial picture, Amnesty said structures for security forces, helipads and even roads have been built in and around torched Rohingya properties.

US, Russia Remain World's Top Exporters Of Weapons US, Russia Remain World's Top Exporters Of Weapons In fact, Indian arms imports have increased in the past five years, despite a continued push for indigenous production. Arms exports by Russian Federation decreased by 7.1 per cent between 2008-12 and 2013-17.

Microsoft starts selling customised version of Samsung Galaxy S9 and Galaxy S9+ Microsoft starts selling customised version of Samsung Galaxy S9 and Galaxy S9+ The industry watchers have stated that the performance of Galaxy S9 hovered below the level of expectations. Reports from Korea suggest that Samsung aims to ship 43 million units of its S9 and S9 Plus devices.

Japan PM Abe apologizes over ministry land-sale document alterations Japan PM Abe apologizes over ministry land-sale document alterations On Friday, National Tax Agency chief Nobuhisa Sagawa resigned over remarks in parliament previous year about the case. A few days earlier, a finance ministry official involved in the land sale was found dead from an apparent suicide.