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VC-Backed File Storage Giant Dropbox Launches $612M IPO

Law360 (March 12, 2018, 5:38 PM EDT) -- File storage giant Dropbox Inc. launched an initial public offering on Monday that is estimated to raise $612 million, kicking off a closely watched IPO by one of Silicon Valley's elite venture-backed companies.

Dropbox, represented by Wilson Sonsini Goodrich & Rosati PC, plans to offer 36 million Class A shares priced between $16 and $18, raising $612 million if shares price at midpoint. Dropbox is selling 26.8 million shares directly, while existing stockholders, including co-founders Andrew Houston and Arash Ferdowsi and other investors, will sell the...
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