The market also backed the Swedish streaming company to do that by valuing it at $26.5 billion. This is a pretty similar outlook to that taken with this year's other big tech IPO, Spotify, which has a lot of 'freemium' users that it wants to convert to paid subscribers to reach profitability. "But I think the market success is probably related to brand perception and the potential of growing for Dropbox in the enterprise market (transforming usage of personal Dropbox into corporate Dropbox service)." "We cannot comment on the IPO per se," she said. That's a nearly 5x valuation discrepancy between the two rivals, and although both companies have refused to comment on the number for Computerworld UK, Basso has some thoughts.
That valuation has calcified into a pretty steady market cap of between $2.5 and $3 billion.ĭropbox on the other hand floated earlier this year, with shares jumping as high as $31.60, giving the company a valuation of over $12 billion. Now that both companies have entered the public market we can start to finally compare the two companies, who are often at pains to say that they aren't rivals at all.īox went public back in January 2015, pricing shares at $14 at a valuation of $1.7 billion, which was around $600 million less than the private markets' $2.3 billion valuation of the company. "Dropbox has made some of these same moves, but it may take some time to expand into larger enterprise if their critical mass in terms of customers are clustered in the smaller to mid-market space." IPOs Cheryl McKinnon, principal analyst at Forrester Research, added: "Box made the pivot to focus on larger enterprises earlier, including enhancing its administrative, security and governance capabilities to meet the needs of more regulated businesses.
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