Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 26, 2021

Article Excerpt

DROPBOX INC., $26.59, symbol DBX on Nasdaq, is a U.S. company that provides cloud storage for both individuals and firms. Beginning in 2007, the company has focused on providing the means to synchronize computer files between registered users. Dropbox has since expanded its service offerings, aiming them at improving productivity within organizations via its collaboration platform. The company has over 600 million registered users across 180 countries. Most of them use its free, basic service with limited storage. It has roughly 15.25 million paying users. Dropbox launched its much-anticipated initial public offering, or IPO, in March 2018. It raised a total of $756 million from an offering of 36 million shares at $21 a share. On March 9, 2021, Dropbox announced it would acquire DocSend, a secure document sharing and data analytics company with more than 17,000 businesses using its platform. Dropbox is paying $165 million in cash for DocSend. DocSend aims to give its customers visibility into what happens to their documents after they…