Crunchbase: “Dropbox Prices IPO Above Expectations At $21”
Two Renovata clients, Dropbox and Spotify, hit IPO within a fortnight of each other – and we are not the only keen observers of their market performance.
There has been a significant cooling in progress towards IPO, and several candidate companies are consciously remaining in private hands. 2014 saw 62 tech companies go public; since then no year has seen more than half that rate of throughput.
Tech analysts are therefore concerned that those businesses which do take the plunge achieve expectations; particularly a consumer name like Dropbox (2018’s other big IPO plays, Cardlytics and Zscaler are hardly household brands…)
Crunchbase reports that Dropbox’s strike price was raised in the days ahead of its market debut from around $18 to $21. Indeed, in a positive debut, the price has settled at around $28.
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