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Dropbox Files for I.P.O., and Other ‘Unicorns’ Are Watching

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On Friday, there was an answer: Dropbox, an online file storage company privately valued at about $10 billion, filed paperwork to raise up to $500 million in an initial public offering.

While Dropbox may not have the glamour of a ride-hailing app like Uber or a streaming music service like Spotify — both of which are likely initial public offering prospects — the company is in the same broad group known as “unicorns,” which are start-ups valued at more than $1 billion by the private investors that have so far funded their growth. How Dropbox fares as it goes public could help determine whether other unicorns follow suit.

Dropbox will be especially scrutinized after the fizzling of other buzzy tech start-ups that went public last year. Shares of Snap, the unicorn behind the popular Snapchat app, surged when it went public last March, but it has since struggled to stay above its offering price of $17 a share. And the meal-delivery start-up Blue Apron, which went public at $10 a share last June, is now trading at just above $3 a share.

Still, the public offering market has gotten off to a fast start this year, with some 34 companies raising $11.87 billion in the public markets to date, according to Dealogic, a data provider. This comes despite a bout of stock market volatility this month that briefly sent the Standard & Poor’s 500-stock index down more than 10 percent from its high in late January.
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Related Coverage

    Dropbox Is Said to Be Planning to Go Public This Year JAN. 11, 2018
    Blue Apron Slashes Share Price for Its I.P.O. JUNE 28, 2017
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    Dropbox May Not Be LeBron James, but It Is Still in the Game FEB. 3, 2016

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In total, the number of private companies worth more than $1 billion stands at 228, up from 197 last May, according to CB Insights, a firm that tracks venture capital funding and start-ups.


Source :- nytimes
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