But it could serve as a warning sign all the same for the market. That Dropbox is now worth less than its IPO price is likely immaterial for the company, which generates cash and thus doesn’t need to raise external capital. I’ll leave this here, as I wanted merely to mark a moment I’ve been tracking for a while. That is a healthy figure, but one that is beneath both its highest private-market valuation ( over $10 billion, set back in 2014) and its peak value as a public firm.ĭropbox has shed over 50 percent of its value, compared to its 52 week high. 37 Lisa O'Carroll, 'U2's Bono and the Edge Invest in Dropbox', Guardian. Jan 13 (Reuters) - Dropbox Inc DBX.O on Wednesday announced the exit of operations chief and said it will cut 11 of its global workforce, or 315. 33 Ryan Tate, 'Forbes Layoffs are Here, and They're Brutal', Gawker. Chief Operating Officer Olivia Nottebohm. A dds details from the filing, background, shares. Today, the company is worth $8.3 billion according to Yahoo Finance. File hosting service provider Dropbox Inc said on Wednesday it will layoff 11 of its global workforce to streamline in line with its business priorities. Seeing the values of tech shares fall after their dramatic run in recent years is not surprising when growth begins to fade in the expectations of many, companies priced on high levels of expected growth will get dinged.īut for Dropbox, the decline is notable all the same. Political instability, rising trade tensions, war, and other crises exist around the world, adding to economic concerns in Europe, Asia, and South America. The recent market turmoil in tech is not an isolated result. In simpler numbers, the Nasdaq broached the 8,000 level before falling under 6,600 today. The Nasdaq, a tech-heavy index often viewed as a working proxy for the tech industry, is off 19 percent from its 52-week highs. And cloud-focused stocks as a whole have given up extensive value in recent trading sessions. High-flying technology companies like Apple, Amazon, and Facebook have seen their values erode as well. Of course, Dropbox is not alone in seeing its value retreat in recent weeks. It trades for $20.70 at the time of writing. The company went public at $21 per share and opened at $29. Today Dropbox, the popular cloud storage and productivity company, saw its shares’ value fall under their IPO value. Freelance Writers: How To Pitch Crunchbase News.
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