The Dropbox announced on Monday (12) the details of the opening of its capital on the stock market. In a case at the SEC, the U.S. Securities and Exchange Commission said it intends to provide 36 million papers, raise $ 648 million and be valued at about $ 7.5 billion.
Dropbox shares are expected to trade between $ 16-18 at the start (a market value of $ 7 to $ 7.9 billion). However, if this scenario materializes, the company will suffer a devaluation – In the most recent contribution made by private investors four years ago, the company was valued at $ 10 billion, 33% more than now.
According to him New York Times , Dropbox executives introduce the company to potential buyers to convince them that the shares will have a profitability closer than Facebook (which has quintupled its market value from IPO) and different from Snap (which really performed well). collapsed shortly after).
Founded in 2007, Dropbox was the pioneer of cloud storage and today has over 500 million registered users, mostly acquired through «organic adoption and viral growth», in the words of the service. Paying consumers represent 90% of the company’s entire revenue.
Only Dropbox is not yet profitable. It has reduced its losses every year, but is still trading in the red: it bled $ 325.9 million, $ 210.2 million and $ 111.7 million in 2015, 2016 and 2017, respectively. it warns investors that it has a «history of losses» and that «it may never achieve or maintain profitability».
If all goes well, Dropbox should be listed on the Nasdaq Stock Exchange, under the symbol DBX, by the end of next week.
With information: New York Times, Reuters, Financial Times.