Monday, February 26, 2018

Dropbox Files For IPO

San Francisco-based Dropbox filed for its long awaited IPO on Friday, saying in a filing that it is looking to raised $500M in its IPO on the Nasdaq Global Select Market. Dropbox has filed to trade as DBX. The company's IPO is being underwritten by Goldman Sachs & Co. LLC, J.P. Morgan, Deutsche Bank Securities, Allen & Company LLC, BofA Merrill Lynch, RBC Capital Markets, Jefferies, Macquarie Capital, Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, and Piper Jaffray. The company's biggest institutional shareholders are Sequoia Capital (23.2 percent of pre-IPO shares), Accel Partners (5.3%), and T. Rowe Price (2.2%).