Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 13, 2023

Article Excerpt

DROPBOX INC., $23.07, symbol DBX on Nasdaq, is a U.S. company that provides cloud storage and related services for both individuals and firms. Beginning in 2007, the company has focused on providing a way to synchronize computer files between registered users. Dropbox has since expanded its service offerings; it aims to improve productivity within organizations through the use of its expanding collaboration platform. Currently, the company has over 700 million registered users across 180 countries. Most of them use its free, basic service with limited storage. Still, it has roughly 17.55 million paying users. Dropbox launched its much-anticipated initial public offering (IPO) in March 2018. It raised a total of $756 million from the sale of 36 million shares at $21 a share. That was well above the company’s proposed range of $18 to $20 per share. On December 16, 2022, Dropbox announced it had closed the acquisition of FormSwift for $95 million. FormSwift is a cloud-based business that provides users with a solution…