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Dropbox's $7 billion IPO is a third from peak valuation

Reuters 

By Diptendu Lahiri(Reuters) - Dropbox Inc on Monday filed to go public, valuing the cloud storage company at up to $7.1 billion, nearly a third below a valuation three years ago, as concerns rose that it was not growing fast enough to justify a loftier price tag.The San Francisco-based company, which started as a free service to share and store photos, music and other large files, competes with much larger technology firms such as Alphabet Inc's Google, Microsoft Corp and Amazon.com Inc as well as its main rival Box Inc.A series of fundraisings included one in early 2015 valued Dropbox at $10 ...

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First Published: Mon, March 12 2018. 22:36 IST
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