Dropbox Ponders IPO
Data-sharing outfit Dropbox is in the market for an initial public offering that would create the biggest US technology company to go public since Snap.
Initial worth of the company came in at almost US$10 billion in a private fundraising round in 2014.
However, the plan does not necessarily augur well, as the proceeds from US technology IPOs slumped to $6.7 billion in 2015 from $34 billion in 2014, and shrunk further to $2.9 billion in 2016, according to Thomson Reuters data.
Box, Dropbox’s main competitor, was valued at roughly $1.67 billion in its IPO in 2015, less than the $2.4 billion it had been valued at in previous private fundraising rounds.