Topic: How To Invest

Q: Pat, what do you think of Dropbox? Its shares seem to have lagged other tech stocks. Thanks.

Article Excerpt

A: Dropbox Inc., $29.34, symbol DBX on Nasdaq (Shares outstanding: 318.0 million; Market cap: $11.7 billion; www.dropbox.com), 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 their 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 15.83 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 March 22, 2021, Dropbox completed the acquisition of DocSend, a secure document-sharing and data-analytics company with…