9/23/2023 0 Comments Dropbox ipoThose extra protections increased the value that the late-round investors were getting, and that tends to overstate the value of the company.”įurther tamping down investor appetite is that Dropbox is operating in an increasingly competitive cloud storage market, filled with many other rivals such as Box, Amazon, Google and Microsoft. Also, “late-round investors various protections that the earlier investors and employees with stock options or restricted stock didn’t have. What happened? “That $10 billion figure, as with other unicorns, is an overestimate of what the private market was actually willing to pay,” said Jay Ritter, a finance, insurance and real estate professor at the University of Florida. In 2014, Dropbox was privately valued at $10 billion, but its prospectus now puts the new valuation at around $7 billion, according to a recent filing with the Securities and Exchange Commission. But its IPO could prove to be a “down round” - where the value falls below the amount previously set in the last private financing round. Wharton’s David Hsu and Jay Ritter from the University of Florida discuss the prospects for Dropbox’s IPO.ĭropbox, the San Francisco-based cloud storage and file sharing company, is expected to go public this month under auspicious circumstances: The stock market is rebounding and the economy continues to show strength.
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