Dropbox's big day it comes at a less than auspicious time for global stock exchanges. The cloud storage company will go public today on the Nasdaq, just as the US technological list is grappling with the Facebook scandal and with theand repercussions of the trade war between China and the US which are heavily influencing its performance and that of all Wall Street indexes.
However, Dropbox could help shuffle the cards: its is the biggest tech IPO since Snap's 2017 and one of the most awaited prices of 2018. According to CNBC, the starting price will be equal to $ 21 per share, above that set by the group, including the latter between 18 and 20 dollars per share and in any case above the initial estimate made by the San Francisco company.
36 million shares will end up on the market, all already sold as demand is 25 times greater than availability. It should be underlined that the company's presentation among institutional investors was a huge success. Not only that, in the first phase of its IPO, Dropbox has already raised $750 million.
Investor eyes today will be on the cloud storage giant. From his performance, the market also expects to understand something more about the so-called "unicorns", i.e. startups with a value of more than 1 billion dollars.
Of billions, Dropbox is even worth 10 and last year it reached 1 billion dollars in revenues, conquering 500 million users. The group also recorded a loss of 111,7 million dollars, lower than that recorded in 2016, equal to 210,2 million dollars.
