Dropbox is Ready to Conquer Wall Street: New IPO Launched

Share

When it comes to cloud storage, Dropbox is one of the most popular names. Every user wants a software that will allow them to store their files safely, and that is exactly what Dropbox offers. Nevertheless, it managed to grow in the past years, until it started to compete with other big names.

Now Dropbox finally made the big step and its IPO is available. If you are investor this is something you should definitely look at, since it is very promising. It started trading at $8 above the $21 IPO price and its shares closed at $28.48. In fact, this IPO is the biggest tech one ever since Snap, Inc. managed to raise more than $3 billion back in 2017

Not the best for consumers

While it might be a great choice to invest in it, Dropbox is not necessarily the best option for regular consumers. That is because there are other cloud storage companies that come with better offers for users. For example, Carbonite and BackBlaze have lower fees for online backup. Additionally, if we analyse the terms, we can see that we find better things at Apple, Google, Amazon and Microsoft.

While Dropbox has around 500 million users, many of them do not use the premium services. 11 million people are paying, while the rest continue to use the free accounts that offer 2 GB. That is the reason why Dropbox “expects to make money from enterprise,” and it focuses less on the consumers.

If we were to compare Dropbox and its biggest rivals we can spot quite a few differences. Dropbox has a $120 annual fee for 1 terabyte of storage, and it also has Dropbox Business which offers 2 terabytes for $150 yearly. There are also 2 GB of free storage.

mm

Brad is a former Senior Fellow at the Schuster Institute for Investigative Journalism at Brandeis University, is an award-winning travel, culture, and parenting writer. His writing has appeared in many of the Canada’s most respected and credible publications, including the Toronto Star, CBC News and on the cover of Smithsonian Magazine. A meticulous researcher who’s not afraid to be controversial, he is nationally known as a journalist who opens people’s eyes to the realities behind accepted practices in the care of children. Brad is a contributing journalist to Advocator.ca


Share

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *