Dropbox went public with multiple share classes, which gave more voting rights and control to executives.
But the stock, which is trading under the ticker symbol DBX, opened at $29 and then continued to climb, rising to around $31 a share 15 minutes into its trading session.
Dropbox surged by as much as 44% during its trading debut on Friday, marking a strong start to the most prominent tech initial public offering so far this year.
Venture capital firm Sequoia Capital will retain a stake of about 25 percent.
The 11-year-old company reported revenue of $1.11 billion in 2017, up from $844.8 million a year earlier.
Andrew W. "Drew" Houston, the co-founder and CEO of Dropbox. The new price range suggests the company could have a market capitalization of up to $8.7 billion and the IPO could raise up to $720 million.
Dropbox has 500 million users and competes with Google, Microsoft and Amazon. Bloomberg also noted that "Dropbox has shifted to focus on selling its cloud service to larger businesses, which has helped boost revenue". The stock now trades near 11.40, up 0.8%. Its full-year net loss almost halved from the $210.2 million in 2016.
"They talked for two hours back in Boston and "got married on the second date", as Houston describes it. Ferdowsi dropped out of school with just six months to go [to work full-time on Dropbox]".
The underwriters for the offering are Goldman Sachs, JPMorgan, Deutsche Bank, Allen, Merrill Lynch, RBC Capital Markets, Jefferies, Macquarie Capital, Canaccord Genuity, JMP Securities, KeyBanc Capital Markets and Piper Jaffray.
Li said Beijing would "fully open" manufacturing, with "no mandatory requirement for technology transfers ". The proposed tariffs include a 15 percent levy on fresh fruit, nuts and wine valued at $1 billion.
Stephen Hawking's ashes will be interred next to the grave of Sir Isaac Newton at Westminster Abbey , it has been confirmed. So, the service will be both inclusive and traditional, reflecting the breadth and diversity of his life".
All-Stars Draymond Green , Kevin Durant and Klay Thompson have all missed time recently due to various ailments. In this edition of the Warriors Report, we go through Steph Curry's MCL injury in the Golden State Warriors vs.
The UK-based rights group said the arms sales have been an "enormous harm to Yemeni civilians" over the course of the war. The rights group documented violations of worldwide law by all warring parties, including the Iran-backed Houthi rebels.
After making a comeback in Tottenham's 2-2 draw against Rochdale in February, Toby has again spent time on the sidelines. Alderweireld's future at Spurs is under the spotlight as his contract stand-off with the north London club continues.
The North has frequently responded with fiery rhetoric and provocations, including firing four missiles toward Japan a year ago . Forces Korea's public affairs office said Key Resolve would begin on April 23 and last about two weeks as usual.
As for those who might conflate the character with the candidate, political strategists say Nixon nabbed the right role. David Eigenberg, who portrayed Miranda's husband Steve on the show, is also choosing to sing her praises.
Trump rolls out new transgender military ban
Anywhere between 4,000 and 10,000 transgender people are now serving as active-duty and reserve service members. The policy also created a procedure by which such Service members could change their gender.
Journalist killed in Mexico's Gulf coast state of Veracruz
Peterson says the family's social media accounts have been inactive and there hasn't been any movement on their cellphones. There were no signs of violence , the attorney general's office for the state of Quintana Roo said on Twitter .
United gives $10K travel voucher to 'bumped' passenger
Add United Airlines as an interest to stay up to date on the latest United Airlines news, video, and analysis from ABC News . A passenger who was bumped off a full United Airlines flight has scored the maximum prize - a $10,000 travel voucher.
Nissan Plans Eight New Electric Cars in Wake of Leaf Success
As is the case with other automakers, Nissan's embrace of electrification involves more than just purely electric vehicles. This will be followed by enhancing ProPILOT to automate multilane driving on highways and managing vehicle destinations.
How Much Did Pritzker, Rauner Spend, Per Vote?
Illinois Governor Bruce Rauner claimed victory Tuesday night in the Republican primary to run for re-election in November. His opponents in the primary even termed his "fraud" and "liar" but Pritzker remained indifferent to the criticism.
Attack in Kabul on Persian New Year kills 26
An investigation into the security breach was under way, and that anyone found to have neglected his duties would be punished. The attacker detonated the explosives that he was carrying before entering the mosque, Almas said.