Market Overview

Where The Dropbox IPO Ranks Among Recent Tech Offerings

Where The Dropbox IPO Ranks Among Recent Tech Offerings

Dropbox, Inc. (NASDAQ: DBXstock traded on a public market for the first time Friday and was more than 35 percent higher than its offering price at the close. 

What Happened

Dropbox's initial offering price range for its IPO was in a range of $16 to $18 per share. This was revised March 21 to a new range of $18 to $20, was priced at $21 per share on Friday and ultimately opened at $29.10.

At the price range of $18 to $20, Dropbox could raise up to $720 million, which would value the company anywhere from $7.8 billion to $8.7 billion, Statista said.

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Dropbox has 11 million customers who pay for its services, but has more than 500 million unpaid users, according to Statista. The challenge for the company moving forward will be how it can convert its large base of unpaid users in hopes of erasing its $112-million loss on revenue of $1.11 billion last year.

Why It's Important

Dropbox's valuation of $7.8 billion to $8.7 billion makes it far from the largest technology company to oversee an IPO in recent memory. Here's Statista's chart of how the Dropbox IPO compares to other high-profile tech IPOs since 2011.

Infographic: How Dropbox's Upcoming IPO Measures Up | Statista You will find more infographics at Statista.

What's Next

Dropbox shares closed at $28.48 Friday, up 35.62 percent on its first day as a public company. 

Related Links:

Ahead Of Dropbox IPO, DA Davidson Takes Bullish Position On Cloud Storage Company

Dropbox Preps For Friday IPO Alongside Education, Biotech Firms

Posted-In: cloud cloud stocks StatistaNews IPOs Top Stories Tech Media Best of Benzinga


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