This led to the company’s shares closing at $28.48 on its first sale of stock, an up excess of close to 35 percent.ĭropbox’s performed well on its first day of trading. Indications show that early investors sold stock since investors were quick in buying Dropbox’s stock on its first Day of sale.

The company sold 36million shares, and according to a CNBC source, the offering was 25 times oversubscribed.Dropbox collected $756 million making the company the largest tech IPO since snap in 2017 (Dropbox prices IPO at $21 per share). The company anticipated raising over $750 million in the sale. The company’s market valuation stood at around $ 10 billion.ĭropbox priced its IPO above prospects at $21 per share. The figure however changed later as Dropbox shares went up by close to 36 percent by the closeof the market during its initial day of going public (Oyedele).

The company and its investment bankers initially estimated to sell the IPO at close to $700 million. The magazine also placed Dropbox in the $10 billion valuation range.ĭropbox filed its first initial public offering(IPO) on Nasdaq on February 2018. The company offers file hosting services through different avenues including personal cloud, file synchronization, cloud storage and client software (Dropbox Inc).Developed by MIT students ArashFerdowsi and Drew Houston back in 2007, the company has quickly grown to be a leader in the cloud services business.According to TechCrunch reports, the company was raising close to US$300 million in July 2011. Dropbox is an American company situated in San Francisco, California.

Dropbox stock public