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3/23/2018, 1:04 AM (Source: TeleTrader)
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Dropbox lifts IPO price to $21

Dropbox Inc. priced its initial public offering (IPO) at $21 per share, the company said on Thursday. The cloud storage company will hit the public market on Friday and is offering 36 million shares.

The above-expected pricing gives Dropbox a market valuation of $8.2 billion that is still below the $10 billion rating the company received after a private financing four years ago.

Dropbox, which will trade on the Nasdaq under "DBX," will be the first major tech company to go public since Snap almost a year ago.

Breaking the News / KP