Dropbox shares soar in biggest tech IPO debut since Snap

26 March, 2018, 02:35 | Author: Larry Hoffman
  • Epic Games shows off amazing real-time digital human with Siren demo

Dropbox Inc's initial public offering, the largest tech stock debut in more than a year, was priced at $21 per share, the company announced on Thursday, higher than expected.

After Snap's disappointing IPO - it is now trading roughly 4% below its $17 IPO price - analysts believe the Dropbox and Spotify offerings boost the tech IPO market this year. That appeared to drag down the industry altogether, with Google and Apple having fallen about 7 percent this month.

The stock opened at $29 on the Nasdaq and soared as much as 50 percent to a high of $31.60 in early trading.

Short finned pilot whale euthanised after re-stranding near Augusta
The surviving five whales have been moved to deeper waters, but there was still a risk they could return to dry land. According to the Department of Fisheries, some of the whales are still alive but majority are dead on the shore.

The cloud-based file-storage firm on Wednesday raised the expected price range by $2 to $18 to $20 per share, on the back of strong demand.

The regulatory filing Dropbox submitted for its IPO showed the company had more than 11 million paying users. It is the largest tech stock IPO in more than a year and early pricing bodes well for other IPOs from tech unicorns and startups.

At its highest trading price, the cloud-storage company was worth almost $12 billion, above its most recent private valuation.

MS gov will name Hyde-Smith to Senate vacancy
McDaniel, who has a history of making incendiary comments, would be more at risk of losing than a less-controversial Republican. Hyde-Smith, a Republican who is now the state's agriculture and commerce commissioner, will replace longtime GOP Sen.

The cloud storage company's IPO was the largest tech offering since Snap Inc. went public a year ago.

Dropbox now has over 500 million registered users across 180 countries, but only 11 million of those users are paying. "It has an attractive story to justify its need for financing and the market dynamics are good, ' Josh Lerner, professor of Investment Banking at Harvard Business School, told Reuters, adding 'But at the same time the environment is also competitive".

The IPO raised about $756 million in the largest tech IPO since Snap Inc raised $3.9 billion in its debut previous year. For example, Andrew Houston, the co-founder and CEO, will have 24% of the company, while the the venture-capital firm Sequoia Capital will own a 25% stake. Its full-year net loss, meanwhile, almost halved to $111.7 million.

MS law bans abortions past 15 weeks gestation
Supporters of the pro-choice movement and the Jackson Women's Health Organization on the 40th anniversary of Roe v Wade in 2013. Phil Bryant signed the bill into law Monday afternoon, saying MS is "saving more of the unborn than any state in America".



UFC Eyes Anthony Joshua In $500 Million Multi-Fight Deal
Joshua's name has come up in MMA conversations before. "I've been riding with Eddie". The Englishman is a fight promoter's dream.

Clashes in Barcelona as thousands protest over jailing of Catalan leaders
On Friday evening, Supreme Court judge Pablo Llarena ordered an global arrest warrant for all six. Twenty-four protesters were lightly injured in clashes with police, emergency services said.

Trump tariffs undermine trust in rules-based global commerce
Lee said the most likely scenario is that the two countries will gradually reach a consensus, but added that U.S. The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping.

Trump orders banning of transgender troops from military in most cases
The policy announcement outraged advocates for transgender troops, and the advocates vowed to fight the limits in court. The order to reverse President Obama's policy was blocked by federal judges who said it was probably unconstitutional.

Turkey's Erdogan Vows Wider Offensive Against US-Backed Syrian Kurds
Department of State's spokeswoman, Heather Nauert, said Thursday that the U.S. and Turkey have not reached an agreement yet. The military offered condolences to the families of the martyred soldiers and wished injured soldiers a speedy recovery.

World markets tumble on growing trade war fears
The S&P 500 posted two new 52-week highs and 42 new lows; the Nasdaq Composite recorded 23 new highs and 93 new lows. Technology and industrial companies, basic materials makers and health care companies also fell sharply.

Senior Chinese official cautions United States over tariffs
On the other hand, China urged the United States to cease and desist from endangering trade relations between the two countries. China potential measures were not confined to commodities, and tourism could be a possible target, he added.

CWG 2018: Rape-accused Soumyajit Ghosh to miss CWG, says TTFI Secretary
Let me assure you that they are not going on government cost. "They contribute to the good performance of the players", he said. These extra officials will go at the expense of the respective National Sports Federations, according to Batra.

Trump passes $1.3 trillion spending bill to avert shut down
A third lapse would be deeply embarrassing for a Republican-controlled Congress facing mid-term elections in November. Five times since October, lawmakers have had to pass stopgap funding legislation to keep the government's lights on.

Crude Firms on Geopolitical Tension, but Saudis See a "Stable" Market Ahead
If the USA imposes fresh sanctions on Iran , the country's capacity to export crude oil is likely to be crippled as a result. Secretary of State as a risk to oil markets, given that he fiercely opposed the Iranian nuclear deal as a member of Congress.