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Dropbox Reins in Valuation Goals as It Heads for Public Markets
- File-sharing company targeting market value below last funding
- Silicon Valley darling to raise as much as $648 million
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Silicon Valley darling Dropbox Inc. is aiming to go public at a valuation well below the $10 billion it clocked in its last private funding round, despite posting healthy revenue growth and turning cash-flow positive in the intervening four years.
The file-sharing company is targeting a public market capitalization of $6.3 billion to $7.1 billion in its initial public offering, according to a filing Monday. Including restricted stock units, that range is $6.7 billion to $7.6 billion.