Existing investor Salesforce invested another $100m in a private placement, as the file storage platform floated above its range at an $8bn+ valuation.
US-based data storage and collaboration platform Dropbox will float in a $756m initial public offering on the Nasdaq Global Select Market today, alongside a $100m investment by enterprise software provider Salesforce.
The company will issue 36 million shares it priced at $21 each yesterday, giving it an $8.22bn market cap. Sources told Reuters last week the offering was oversubscribed, and Dropbox lifted its range from $16 to $18 a share, to $18 to $20 earlier this week.
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