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Dropbox IPO priced at nearly one-third below its peak valuation


By Heather Somerville and Diptendu Lahiri(Reuters) - Dropbox Inc on Monday priced shares for its initial public offering that would value it at up to $7.1 billion, nearly a third below the valuation it commanded in 2014, a clear sign of how overheated the private tech market became a few years back. Cloud storage company Dropbox is the largest tech IPO after a protracted dry spell, and investors are carefully watching it for signs of how other highly valued tech companies will be received by the public markets. If Dropbox is a barometer for public market sentiment, it appears that ...

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First Published: Tue, March 13 2018. 02:17 IST