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Dropbox has announced plans to list 36 million shares when it goes public later this year.
The company estimated in a filing on Monday that each of those shares would cost $16 to $18. That means the company is seeking to raise up to $648 million, or £467 million, from its public listing.
The midpoint of those pricing estimates would value the company at $7.5 billion.
Additionally, the document filed by Dropbox said Salesforce’s ventures arm, Salesforce Ventures, had agreed to buy $100 million worth of Dropbox stock.
The company filed for its initial public offering in February, saying it planned to trade on the Nasdaq under the ticker symbol DBX.
The S-1 form that Dropbox filed with the Securities and Exchange Commission showed that the company lost $111 million on revenue of $1.1 billion last year.