![]() Market-leading partners, vendors, distributors, telcos, start-ups and individuals were honoured during the Innovation Awards in 2022, as ARN raised the bar for ecosystem excellence in Australia. Slideshows Channel honours ecosystem excellence at ARN Innovation Awards 2022 The venture capital arm of has agreed to buy US$100 million of Dropbox's Class A common stock in a private placement at the IPO price. The high end of the range values Dropbox at up to US$7.07 billion, nearly three times that of Box's US$2.85 billion market capitalisation. Box, which is also loss making, went public in 2015.ĭropbox plans to raise as much as US$648 million by selling 36 million shares at between US$16 and US$18 per share in its initial public offering, the company said in a regulatory filing. In comparison revenue at Box, which started operation two years before Dropbox, is expected to increase 25 per cent to about US$506 million this fiscal from US$398.6 million a year earlier. The company, co-founded in 2007 by two MIT graduates, Andrew Houston and Arash Ferdowsi, reported 2017 revenue of US$1.11 billion, up 31 per cent from a year earlier, while its net loss narrowed to US$111.7 million from US$210.2 million in 2016. “The price had to come down to lure in the investors.” "Dropbox is still loss making and it's revenue is not enough to justify a market value of US$10 billion,” said Phil Davis, CEO of, an investment advisory service.
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