• News Desk - Reuters

DROPBOX SHARES SURGE IN HUGE TECH DEBUT


The Dropbox stock opened at $29 on the Nasdaq and shot up to as high as $31 in early trading. At the stock’s opening price, the company touched a market valuation of $12.67 billion, above the $10 billion valuation it had in its last private funding round. Dropbox Inc’s shares soared around 40 percent in their market debut on Friday as investors rushed to buy into the biggest tech IPO in more than a year. Dropbox’s debut marks an end to a long dry spell in the U.S. IPO market for big names in the technology sector. The last so-called tech unicorn to hit the market was Snapchat owner Snap Inc last March.The pop in price may bode well for music streaming service Spotify - valued at roughly $19 billion in the private market - that has also filed for a direct listing and will start trading on the New York Stock Exchange on April 3.

Read More ...

#IPO #Dropbox #Shares

amazon smile for pragnya.png
Our Non- Profit Partners
pragnya_logo.png
LOCAL EVENTS
BAY AREA NEWS

Powered by Studio M | 1917 Concourse Dr. San Jose CA 95131