DropBox IPO Closes Its 35% Up On First Day Of Trading – CWEB.com
Dropbox (DBX) closes its first day of trading up over 35%.
The stock opened at $29 this morning and rose as much as 50% intraday.
Dropbox’s market valuation was $12.67B at the opening price. The company had a $10B valuation during its last private fundraising round.
The first major tech IPO of the year!
The company has now unveiled its filing, meaning the actual IPO is likely very soon, probably late March.
The filing shows that Dropbox (DBX) had $1.1 billion in revenue for last year. This compares to $845 million in revenue the year before and $604 million for 2015.
The company is not yet profitable, having lost nearly $112 million last year. This shows significantly improved margins when compared to losses of $210 million for 2016 and $326 million for 2015.
The filing shows that Dropbox (DBX) had $1.1 billion in revenue for last year.
Dropbox, which has a freemium model, says it has 11 million paying users, just a small fraction of the over 500 million registered users who use its cloud services for free.
Its average revenue per paying user is $111.91
Read Full Article and Videos CWEB.com – Trending News, Blog, Shopping
