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<a href="https://markets.businessinsider.com/stocks/dbx-stock"></a><ul class="summary-list"><li>The activist hedge fund <keyword id="912157" type="ORGANIZATION" weightage="60" keywordseo="Elliott-Management">Elliott management</keyword> reportedly holds a 10% stake in <keyword id="285445" type="COMPANY" weightage="60" keywordseo="Dropbox">Dropbox</keyword>.</li><li>Shares of the cloud storage company soared as much as 8% after the news broke.</li><li>Elliott Management boasts over $41 billion in AUM and is known for its previous activist stakes in Twitter and Comcast.</li></ul><a href="https://markets.businessinsider.com/stocks/dbx-stock">Dropbox</a> stock soared on Wednesday after a report out of the Wall Street Journal revealed the activist hedge fund Elliott Management holds a 10% stake in the company, worth well over $800 million.Speculation about a potential <keyword id="2488440" type="PERSON" weightage="60" keywordseo="Activist-Investor">activist investor</keyword> stake in Dropbox has been swirling since mid-May when a 13-F filing from UBS showed that the bank had picked up 7.7 million shares of Dropbox in the second quarter. UBS is often associated with activist investors taking swap positions through banks.Now, unnamed sources speaking to the Wall Street journal confirmed Elliott Management has entered the fray.The hedge fund boasted more than $41 billion in assets under management (AUM) as of January 2021 and is known as one of the busiest activist investors in the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>.The firm has been involved in Twitter, Comcast, and dozens of other stocks as an activist shareholder, pushing for changes to help increase return on equity for investors.Dropbox was founded in 2007 by Drew Houston and Arash Ferdowsi and is focused on offering <a href="https://www.businessinsider.com/what-is-dropbox">cloud-computing storage solutions</a> to its over 700 million registered users.The company reported revenue of $1.9 billion last year, an increase of 15% year-over-year, and boasts a market cap of over $11 billion.Dropbox went public in March 2018 at $21 a share, and its stock quickly shot up to nearly $40 per share by the summer. However, since then, Dropbox has struggled to break out of the $20 to $25 range amid increasing competition in the cloud storage space.In January, the company was also forced to cut <a href="https://www.businessinsider.com/drew-houston-dropbox-will-cut-315-jobs-11-of-workforce-2021-1">11% of its workforce</a>, with CEO Drew Houston saying, "the steps we're taking today are painful, but necessary." The move came just months after the company said all of its workforce would be <a href="https://www.businessinsider.com/dropbox-letting-all-employees-work-from-home-permanently-2020-10">allowed to work remotely</a> on a permanent basis.Despite the poor performance over the past two years, Dropbox shares have jumped roughly 23% in 2021. This, despite first-quarter earnings results, which showed a continued decline in the company's revenue growth (first-quarter revenue rose just 12%).

Dropbox soars on report that activist hedge fund Elliott Management has a 10% stake in the company

<ul class="summary-list"><li><keyword id="285445" type="COMPANY" weightage="60" keywordseo="Dropbox">Dropbox</keyword> fell as much as 5% on Friday after turning in a fourth-quarter <keyword id="45439" type="PERSON" weightage="60" keywordseo="Net-Loss">net loss</keyword> of $346 million. </li><li>The company took a quarterly charge on real-estate assets following its shift to remote work during the COVID-19 outbreak. </li><li>Dropbox's adjusted <keyword id="6357061" type="SPONSORED" weightage="60" keywordseo="earnings">earnings</keyword> of $0.28 per share beat expectations of $0.24 per share. </li></ul><a href="https://markets.businessinsider.com/stocks/dbx-stock">Dropbox stock</a> fell as much as 5% Friday, with the cloud-storage provider turning in a fourth-quarter net loss as a shift to remote work led to a charge related to <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword>.The company's net loss was $345.8 million, wider than its loss of $6.6 million a year ago and a swing from profit of $32.7 million in the third quarter.Shares of Dropbox fell as much as nearly 5% to $23.31. It's added on nearly 10% during the year and 8.5% over the last 12 months.Dropbox recorded a non-recurring impairment charge of $398.2 million in the fourth quarter for "right-of-use and other lease related assets."The charge stems from its reassessment of real estate assets, which will include subleasing some of its space. In October, the San Francisco-based company said employees working remotely "<a href="https://blog.dropbox.com/topics/company/dropbox-goes-virtual-first">will be the primary experience</a>" and "the day-to-day default for individual work" under its "Virtual First" program. Dropbox acknowledged the "abrupt shift" to remote work in 2020 during which numerous companies transitioned to work outside of offices because of the COVID-19 pandemic.The impairment charge was not part of its adjusted earnings, which came in at $0.28 per share compared with $0.16 a year earlier. Analysts, on average, had expected earnings of $0.24 per share.Revenue climbed to $504.1 million from $446 million a year earlier, surpassing Wall Street's target of $498 million.

Dropbox falls as charge on real estate in shift to remote leads to wider quarterly net loss

<ul><li><keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">Dogecoin</keyword>'s 1,500% rally in 2021 had made the meme-based cryptocurrency worth $10 billion.</li><li>These 11 well-known companies are now worth less than a shiba inu-inspired cryptocurrency.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</a></li></ul>Dogecoin, a meme-inspired cryptocurrency that was started as a joke in 2013, is now worth more than $10 billion after a gravity-defying year-to-date rally of 1,500%.The rally was sparked by <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-twitter-cryptocurrency-market-trading-reddit-doge-2021-2-1030043774">a series of tweets from Elon Musk</a>, as well as <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-surges-tweets-from-elon-musk-snoop-dogg-cryptocurrency-2021-2-1030055654">Snoop Dogg, and Gene Simmons.</a> An overall increase in demand for crypto among investors following <a href="https://markets.businessinsider.com/news/stocks/bitcoin-price-record-high-48000-elon-musk-tesla-michael-novogratz-2021-2-1030059669">bitcoin's surge to nearly $50,000</a> likely also helped support the recent rally in Dogecoin.Dogecoin differs from bitcoin in that there is no hard limit on the total supply of coins. Bitcoin has a fixed supply of about 21 million coins, of which not all have been mined yet. Dogecoin on the other hand has more than 100 billion coins outstanding, with 5 billion in new coins hitting the supply every year.Even the founder of dogecoin, Billy Markus, can't make sense of the surge in the coin he started as a joke. Markus <a href="https://www.wsj.com/articles/elon-musks-dogecoin-tweeting-has-believers-barking-for-more-11612607401?mod=hp_lista_pos4">told The Wall Street Journal,</a> "The idea of dogecoin being worth 8 cents is the same as GameStop being worth $325, it doesn't make sense."Dogecoin's unlimited supply cap and the bewilderment of its founder hasn't stopped investors from piling into dogecoin, making it now more valuable than these 11 well-known companies.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-26-economic-recovery-low-rates-goldman-sachs-2021-2" target="_blank" rel="noopener">GOLDMAN SACHS: Buy these 26 'best of both worlds' stocks set to soar with economic recovery even if interest rates stay low</a>1. Wendy'sTicker: <a href="https://markets.businessinsider.com/stocks/wen-stock">WEN</a> Market Cap: $4.6 billion<div type="image" title="wendys drive thru" height="2400" width="4800" msid="80772661" hostid="261"></div>2. Shake ShackTicker: <a href="https://markets.businessinsider.com/stocks/shak-stock">SHAK</a> Market Cap: $5.0 billion<div type="image" title="shake shack" height="512" width="1024" msid="80772663" hostid="261"></div>3. Harley DavidsonTicker: <a href="https://markets.businessinsider.com/stocks/hog-stock">HOG</a> Market Cap: $5.2 billion<div type="image" title="Harley Davidson dealership" height="2513" width="5027" msid="80772667" hostid="261"></div>4. JetBlueTicker: <a href="https://markets.businessinsider.com/stocks/jblu-stock">JBLU</a> Market Cap: $5.2 billion<div type="image" title="JetBlue Airways Airbus A220" height="1249" width="2500" msid="80772671" hostid="261"></div>5. Texas RoadhouseTicker: <a href="https://markets.businessinsider.com/stocks/txrh-stock">TXRH</a> Market Cap: $6.0 billion<div type="image" title="Texas Roadhouse" height="1249" width="2500" msid="80772673" hostid="261"></div>6. Planet FitnessTicker: <a href="https://markets.businessinsider.com/stocks/plnt-stock">PLNT</a> Market Cap: $6.5 billion<div type="image" title="Planet Fitness mask coronavirus pandemic" height="1024" width="2048" msid="80772675" hostid="261"></div>7. GrubhubTicker: <a href="https://markets.businessinsider.com/stocks/grub-stock">GRUB</a> Market Cap: $6.6 billion<div type="image" title="Grubhub CEO Matt Maloney (C) applauds after ringing the opening bell before the company's IPO on the floor of the New York Stock Exchange in New York April 4, 2014. Shares of GrubHub Inc, the biggest U.S. online food-delivery service, rose as much as 57 percent in its market debut as investors scrambled for a piece of the fast-growing consumer internet company. REUTERS/Lucas Jackson" height="1750" width="3500" msid="80772677" hostid="261"></div>8. BlackberryTicker: <a href="https://markets.businessinsider.com/stocks/bb-stock">BB</a> Market Cap: $7.1 billion<div type="image" title="BlackBerry CEO NYSE" height="1249" width="2500" msid="80772680" hostid="261"></div>9. Norwegian Cruise Line HoldingsTicker: <a href="https://markets.businessinsider.com/stocks/nclh-stock">NCLH</a> Market Cap: $7.8 billion<div type="image" title="norwegian epic cruise ship" height="512" width="1024" msid="80772682" hostid="261"></div>10. Under ArmourTicker: <a href="https://markets.businessinsider.com/stocks/uaa-stock">UAA</a> Market Cap: $8.6 billion<div type="image" title="under armour UA sportsmask" height="540" width="1080" msid="80772683" hostid="261"></div>11. DropboxTicker: <a href="https://markets.businessinsider.com/stocks/dbx-stock">DBX</a> Market Cap: $9.8 billion<div type="image" title="Dropbox account deletion computer" height="500" width="1000" msid="80772686" hostid="261"></div>*Data as of February 9, 2021.

Dogecoin's $10 billion valuation now makes it bigger than these 11 well-known companies

<ul class="summary-list"><li>As more white collar workers work remotely due to concerns over the coronavirus disease, COVID-19, companies like Zoom, Slack, and Dropbox could benefit from increased usage, analysts say.</li><li>Zoom has already seen increased usage - and responded by lifting its 40-minute limit for callers using the free version of the software in China. </li><li>Some analysts note that software companies aren't typically affected by what's happening overseas or in China, because they don't have to worry about supply chains, like other tech companies.</li><li>Companies that enable remote work and communication may benefit from coronavirus, analysts predict.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymary">Click here for more BI Prime stories</a>.</li></ul>As <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1?r=US&amp;IR=T">concerns over the coronavirus disease, COVID-19, increase</a>, companies are <a href="https://www.businessinsider.com/amazon-employee-travel-restrictions-us-domestic-international-coronavirus-covid-19-2020-2">enforcing more rules and restrictions on where employees can travel</a> - and allowing more people to work from home. In order to stay productive, home-bound workers could use more cloud software apps that help them communicate and collaborate with their coworkers. While the rest of the <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-worst-week-since-2008-coronavirus-economy-2020-2-1028951101">market is plummeting</a> and companies are cancelling conferences and <a href="https://www.businessinsider.com/microsoft-coronavirus-revenue-guidance-impact-2020-2">revising revenue guidance because of coronavirus concerns</a>, cloud software companies like Zoom, Slack, and Dropbox could actually benefit from increased usage, analysts say.Zoom has seen increased usage as a result of the coronavirus outbreak. Wall Street firm Bernstein Research estimates that Zoom has already brought in more new active users this year than last year due to coronavirus, <a href="https://www.cnbc.com/2020/02/26/zoom-has-added-more-users-so-far-this-year-than-in-2019-bernstein.html">according to CNBC</a>.In response to to the increased usage, Zoom lifted its 40-minute limit for callers using the free version of the software in China. Zoom's CEO Eric Yuan, who grew up in China's Shandong province, said he wanted to make a contribution to help those affected by the virus. "We believe every business has the social responsibility to contribute back to the community and to society, and it's critically important during times of crisis," <a href="https://www.businessinsider.com/coronavirus-covid-19-spread-zoom-video-lift-call-limit-2020-2">Yuan wrote in a blog post</a>. "With this tenet in mind, Zoom is doing everything we can to provide resources and support to those navigating the coronavirus outbreak." RBC analysts highlight that companies in the software space typically are not affected by what's happening overseas or in China, whereas other technology companies may have supply chains in China. "In general the software space has low direct exposure to China. We'd highlight the WORK, ZM, SMAR, DBX group as potentially benefiting from COVID-19, if it benefits the greater remote work trend," Alex Zukin, an analyst at RBC, writes in a report, referring to companies like Slack, Zoom, Dropbox and Smartsheet.Analysts at Baird agree with that assessment and think that companies that make communications and collaboration tools are poised to do well as more white collar workers need to work from home. They highlight Zoom, whose <a href="https://markets.businessinsider.com/news/stocks/zoom-stock-soars-coronavirus-bet-employees-work-from-home-video-2020-2-1028946554">stock has skyrocketed since the coronavirus crisis first started</a>.Not only will it help Zoom in the short term, but it would also cause people to change their behavior and use tools like video conferencing more frequently, Will Power, an analyst at Baird, argues."There's now little question that Coronavirus is driving near-term opportunities, but increasingly could drive longer-term behavioral changes that include more video conferencing," Power writes in a research note published Friday. While Zoom has been getting a lot of attention for being a tool that enables remote work, Power says Slack can also help teams that need to work remotely and continue to collaborate. Slack's stock has not seen the rise that Zoom's has due to coronavirus.Power also says Everbridge, a cloud based tool for emergency notifications, is getting more attention due to coronavirus concerns. "[Everbridge] provides cloud-based mass notification and critical event management platforms that help corporate and government users keep employees and citizens safe, in addition to tracking supply chain and business risk events. Events like Coronavirus drive awareness of the products and opportunities," Power said.Companies that help provide the technology to build new tools, such as Twilio and Vonage Holdings' APIs for video, are also poised to do well, Power argues, because they can help make it possible for doctors to provide care using video communication tools. <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1?r=US&amp;IR=T">As of Friday</a>, the coronavirus has spread to every province and region in China as well at least 56 other countries. While China, where the virus started, has been seeing a dropoff in new cases, the virus has been affecting more people in other countries.Got a tip? Contact this reporter via email at <a href="mailto:pzaveri@businessinsider.com">pzaveri@businessinsider.com</a> or Signal at 925-364-4258. (PR pitches by email only, please.) You can also <a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6">contact Business Insider securely via SecureDrop</a>.

Wall Street thinks Zoom, Slack and these 2 other companies could see their stock prices soar as the coronavirus means more people work remotely

<ul><li><a href="https://markets.businessinsider.com/stocks/aston_martin-stock">Aston Martin Lagonda</a> stock sank as much as 16% on Tuesday, dragged lower after the automaker <a href="https://otp.tools.investis.com/clients/uk/astonmartin/rns/regulatory-story.aspx?cid=2424&amp;newsid=1357040">announced</a> a massive profit drop for its first year as a publicly traded firm.</li><li>The company, which builds the sports cars preferred by fictional spy James Bond, revised its fiscal 2019 earnings to land between 130 million pounds ($171 million) and 140 million pounds ($184 million). </li><li>The lower end of Aston's new range reflects a 47% drop year-over-year.</li><li>The automaker is betting big on its new DBX model to drive customer growth and boost revenue in 2020. The firm announced it already has 1,800 early orders for its first-ever SUV, and the preorder strength helped Aston secure an additional $100 million loan.</li><li><a href="https://markets.businessinsider.com/stocks/aston_martin-stock">Watch Aston Martin trade live here</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/aston_martin-stock">Aston Martin Lagonda</a> stock tanked as much as 16% on Tuesday, pulled lower as the embattled luxury automaker posted a massive profit drop in its first year as a publicly traded company.The automaker's adjusted earnings for 2019 are expected to fall between 130 million pounds ($171 million) and 140 million pounds ($184 million), compared to the 247 million pounds ($324) reported in the year prior, the company said in a Tuesday <a href="https://otp.tools.investis.com/clients/uk/astonmartin/rns/regulatory-story.aspx?cid=2424&amp;newsid=1357040">statement</a>. The lower end of Aston's new range reflects a 47% earnings drop year-over-year.Core wholesales fell 7% year-over-year to 5,809 vehicles, the company added.The company, which makes the cars preferred by fictional spy James Bond, has seen its stock price tumble more than 70% since going public in October 2018. Brexit uncertainty and <a href="https://markets.businessinsider.com/news/stocks/auto-industry-shrinking-at-peak-car-dragging-global-economy-lower-2019-10-1028644883">shakeup across the automotive industry</a> contributed to the prolonged drop.Aston also cited the late December rally in the British pound as a hurdle. The pound's strength created a foreign exchange "headwind" for the company, as a stronger currency can cut into revenue sourced abroad."From a trading perspective, 2019 has been a very disappointing year," CEO Andy Palmer said in the statement. "We are taking a series of actions to manage the business through this difficult period."Aston is betting big on its recently introduced DBX model to serve as a fresh revenue driver and attract new customers. The SUV is a first for the company, and will play a crucial role in driving the firm to its goal of doubling annual sales to 14,000 vehicles by 2023.Preorders for the new SUV are the "one bright spot" at Aston, Palmer told <a href="https://www.bloomberg.com/news/articles/2020-01-07/aston-martin-warns-profit-fell-in-carmaker-s-disappointing-2019?srnd=markets-vp">Bloomberg</a> in an interview. The company already has 1,800 orders for the DBX, according to the Tuesday release. The early sales strength helped Aston secure an additional $100 million loan. "Whilst we are disappointed with trading performance in 2019, our focus is now on revitalizing the business, launching DBX and ensuring profitable growth in the medium-term," Palmer said.The automaker is still in talks with potential investors, and new funding could involve an equity investment in the firm, according to the statement. Aston's raising additional capital is "long overdue," Sanford Bernstein analyst Max Warburton wrote in a note seen by Bloomberg."It's extraordinary to see how much the Aston Martin equity story has unravelled since the IPO," the analyst wrote.Aston Martin stock traded at 439.80 pence ($5.78) per share at 10:30 a.m. ET Tuesday, down roughly 16% year-to-date.The automaker has three "buy" ratings, seven "hold" ratings, and two "sell" ratings from analysts, with a consensus price target of 501.64 pence ($6.60).Now read more markets coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/former-fed-chief-standing-repo-market-facility-calm-lending-rate-2020-1-1028799887">A former Fed chief lays out his grand solution to stabilize the repo market</a><a href="https://markets.businessinsider.com/news/stocks/topgolf-ipo-arrive-2020-value-company-4-billion-jpmorgan-bofa-2020-1-1028797513">Driving-range chain Topgolf could reportedly IPO as soon as this year with a $4 billion valuation</a><a href="https://www.businessinsider.com/wall-street-compensation-and-bonus-announcements-for-2020-2020-1">Here's when Wall Street's top banks will announce bonuses to employees</a>

James Bond won't like this: Aston Martin slips deeper into crisis after reporting a massive profit drop

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.gettyimages.com/license/489461552">Steve Jennings / Getty Images</a></div></div></div><ul><li>Dropbox has set its public offering share price at $21, <a href="https://www.wsj.com/articles/dropbox-prices-ipo-above-range-marking-strong-demand-1521752561">according to The Wall Street Journal</a>.</li><li>This is above the $18 to $20 range <a href="https://www.sec.gov/Archives/edgar/data/1467623/000119312518089866/d553858dfwp.htm">the company filed</a> with the Securities and Exchange Commission on Wednesday. </li><li>That gives the San Francisco-based file sharing company an $8.24 billion valuation.</li><li>Dropbox initially set its price range from $16 to $18 on March 12, before raising its price again on Wednesday due to investor interest. </li><li>Dropbox is expected to begin trading on Friday at the NASDAQ under the ticker "DBX."</li></ul>Visit <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-nasa-has-not-sent-humans-to-mars-2018-2">The surprising reason why NASA hasn't sent humans to Mars yet</a></h3> <div> </div> </div>

Dropbox has priced its public offering at $21 - above the range it set on Wednesday

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Mike Blake/Reuters</div></div></div><ul><li>On Friday, Dropbox filed its S-1, making it the first among Silicon Valley incubator Y Combinator's companies to ever file for an IPO.</li><li>Y Combinator accepted Dropbox founder Drew Houston's application for Dropbox in 2007. It was the second time that Houston had applied to the program.</li></ul>On Friday, <a href="http://www.businessinsider.com/dropbox-has-filed-for-an-ipo-2018-2">file hosting service Dropbox filed its S-1</a>, making it the first Y Combinator company to ever file for an IPO.While the Silicon Valley-based incubator has overseen the development of several successful companies like, Airbnb, Docker, and Instacart, Dropbox will be the first within the Y Combinator program to go public.Led by Sam Altman and founded by Paul Graham, Robert Morris, Jessica Livingston, and Trevor Blackwell in 2005, Y Combinator quickly rose to prominence as a program for young startups to gain a network of investors and advisors, in addition to seed funding, in exchange for the incubator taking an equity stake. In December, <a href="https://venturebeat.com/2017/12/14/y-combinator-announces-growth-program-for-later-stage-startups/">Y Combinator announced plans for a development program</a> for later-stage startups.Dropbox founder Drew Houston applied twice to Y Combinator before the selective incubator accepted his application <a href="http://www.businessinsider.com/dropbox-y-combinator-application-from-2007-by-drew-houston-2013-9">in the summer of 2007</a>. While at Y Combinator, the startup attracted interest from tech elites <a href="http://www.businessinsider.com/how-drew-houston-created-dropbox-2018-1#he-founded-dropbox-about-two-years-later-in-response-to-a-personal-technical-problem-4">like Michael Moritz, Mark Zuckerberg, and Steve Jobs,</a> who <a href="http://www.businessinsider.com/dropbox-founder-and-ceo-drew-houston-interview-2017-6">famously said the startup's core online storage offering was "a feature, not a product" and that Apple would destroy it.</a>The company's last valuation was at $10 billion in 2014. <a href="http://www.businessinsider.com/dropbox-has-filed-for-an-ipo-2018-2">The initial offering price has yet to announced.</a> The stock will be listed on the NASDAQ under the stock ticker DBX.<a href="http://www.businessinsider.com/heres-what-analysts-say-dropbox-needs-to-do-for-an-ipo-home-run-2018-1?r=article">READ MORE: Dropbox needs to find a new 'ethos' for an IPO home run - here's how analysts think it could succeed</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hearing-voices-in-your-head-real-life-versus-movies-tulpa-psychiatry-2018-2">What it's actually like to hear voices in your head</a></h3> <div> </div> </div>

Dropbox will be the first-ever startup from Silicon Valley incubator Y Combinator to go public

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Handout/Getty ImagesDropbox co-founder and CEO Andrew Houston</div></div></div><ul><li><a href="http://markets.businessinsider.com/stocks/dbx-stock">Dropbox</a> will make its trading debut on Friday as the most prominent tech initial public offering so far in 2018. </li><li>The cloud-storage company's <a href="http://www.businessinsider.com/dropbox-ipo-price-at-21-2018-3">shares priced higher than expected</a> at $21, giving it a valuation of about $9.2 billion. </li><li>Dropbox is the most prominent so-called unicorn since <a href="http://markets.businessinsider.com/stocks/snap-stock">Snap</a> to test the public market's appetite for tech startups. </li></ul>Dropbox is set to make its trading debut on Friday as the most prominent tech initial public offering so far this year. The cloud-storage company priced its IPO at $21 a share on Thursday, above its previously expected range. This gave it a valuation of $9.2 billion - higher than expected, but just shy of the $10 billion it was worth at its last funding round in 2014.The IPO will be yet another gauge of the ability of unicorns - tech startups valued at $1 billion or more - to thrive on the public market. The most recent and prominent example of such an IPO was <a href="http://markets.businessinsider.com/stocks/snap-stock">Snap</a>, which went public last March. The stock popped on the <a href="http://www.businessinsider.com/snap-snapchat-ipo-2017-3">first trading day</a>, but has since fallen by about 28% amid <a href="http://www.businessinsider.com/r-snap-shares-fall-below-17-ipo-price-for-first-time-2017-7">concerns about competition</a> and its high valuation. Uber, the most valuable private tech company, is not expected to go public until next year. The regulatory <a href="https://www.sec.gov/Archives/edgar/data/1467623/000119312518055809/d451946ds1.htm">filing</a> Dropbox submitted for its IPO showed the company had more than 11 million paying users. It earned $1.106 billion in revenue last year, up 32% from the prior year. Its net loss, however, was nearly halved to $111.7 million. It stopped bleeding cash in 2015 and maintained a positive free-cash flow over the following two years.Like Snap, Dropbox warned potential investors that it may never be profitable.Dropbox also warned that data and security breaches could hurt its ability to keep customers or attract new ones. The company was hacked in 2012, and over 68 million users' emails and passwords were leaked on the internet four years later. Dropbox will have a <a href="http://www.businessinsider.com/dropbox-other-tech-startups-are-adopting-dual-class-stock-structures-2018-2">dual-class stock structure that gives outsized power to some insiders</a>. For example, Andrew Houston, the co-founder and CEO, will have 24% of the company, while the the venture-capital firm Sequoia Capital will own a 25% stake. Dropbox will trade on the Nasdaq with the ticker "DBX." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sea-craft-looks-like-a-plane-docks-boat-airfish-8-widgetworks-2018-3">This sea-craft looks like a plane, has a race-car engine, and docks like a boat</a></h3> <div> </div> </div>

Here comes the Dropbox IPO ...

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Reuters/Francois LenoirBritain's Prime Minister Theresa May is flanked by French President Emmanuel Macron and German Chancellor Angela Merkel before their trilateral meeting at the European Union leaders summit in Brussels, Belgium.</div></div></div>Here is what you need to know. <a href="http://www.businessinsider.com/stock-market-today-selloff-trump-china-tariff-escalates-trade-war-fears-2018-3">Stocks get rocked after Trump's China tariffs ignite trade war fears</a>. The Dow Jones industrial average cratered more than 700 points, or nearly 3%, Thursday after President Donald Trump announced $50 billion of annual tariffs on Chinese exports. <a href="http://markets.businessinsider.com/indices">Global markets are tanking</a>. Japan's Nikkei (-4.51%) was pummeled in Asia and Germany's DAX (-1.92%) is getting hit the hardest in Europe. The S&amp;P 500 is set to open lower by 0.43% near 2,632.<a href="http://www.businessinsider.com/china-previews-trade-war-trump-tariffs-2018-3">China strikes back at Trump</a>. "China does not want a trade war with anyone," the Chinese embassy in Washington DC said in a statement Thursday. "But China is not afraid of and will not recoil from a trade war. China is confident and capable of facing any challenge. If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures."<a href="http://www.businessinsider.com/government-funding-bill-senate-2018-3">Congress averts a government shutdown</a>. Congress has approved a $1.3 trillion measure bestowing hefty increases on military and domestic programs.<a href="http://www.businessinsider.com/eu-council-summit-brexit-deal-talks-transition-2018-3">The EU agrees to move to the final phase of Brexit talks</a>. The 27 EU leaders met in Brussels Friday to formally adopt negotiating guidelines for talks on the future UK-EU relationship, and agree to a 21-month transition period when Britain leaves the bloc in March 2019.<a href="http://www.businessinsider.com/saudi-crown-prince-of-wall-street-2018-3?r=UK&amp;IR=T">Saudi Arabia's Crown Prince is set to meet Wall Street executives</a>. JPMorgan Chief Executive Jamie Dimon, Henry Kravis, who is CEO of private equity firm KKR, and Nasdaq CEO Adena Friedman are among the Wall Street executives expected to attend the 2018 Saudi U.S.-CEO Forum's gala next week in New York City. <a href="http://www.businessinsider.com/dropbox-ipo-price-at-21-2018-3">Dropbox is going public</a>. The cloud-storage company priced its initial public offering at $21 a share, giving it a valuation of $9.2 billion. It will trade under the ticker "DBX."<a href="http://www.businessinsider.com/mark-zuckerberg-subpoena-congress-2018-3">Facebook's nightmare is about to get a lot worse</a>. Multiple congressional committees want to bring in Facebook founder and CEO Mark Zuckerberg to testify about how the company handles privacy and data following the Cambridge Analytica data breach.<a href="http://www.businessinsider.com/nike-beats-earnings-forecasts-q3-2018-2018-3">Nike beats</a>. The sneaker giant beat on both the top and bottom lines, boosted by the new tax laws, but gross margins fell for a ninth straight quarter.<a href="http://markets.businessinsider.com/economic-calendar#date=03/23/2018&amp;name=&amp;countries=us&amp;eventtypes=&amp;tab=1,2,3">US economic flows</a>. Durable goods will be released at 8:30 a.m. ET and new home sales will cross the wires at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.81%.

10 things you need to know before the opening bell

When visiting&#xa0;Facebook recently, you may have noticed a friendly greeting that wasn't there before.Sitting at the top of some Facebook users' news feeds recently is a polite message. It says something like:&#xa0;"Good morning, Maya!&#xa0;Thanks for being here - enjoy Facebook today."Users are seeing the strangely pleasant message on both desktop and mobile.They seem to have mixed responses to the new addition, which is often supplemented by a notification from Facebook's "On This Day" feature (On This Day shows you photos or status updates you posted a year ago today - it's a "this day in history" type feature).The message looks like this:<div></div>&#xa0;<div></div>&#xa0;<div></div>It has some users confused.<div></div>People are also seeing the message at night:<div></div>&#xa0;...And in the afternoon:<div></div>Facebook, <a href="http://www.businessinsider.com/more-than-1-billion-people-a-day-used-facebook-in-september-2015-11">which had more than a billion users every day</a> in September, is on a tear. On Wednesday, its stock&#xa0;hit an all-time high after-hours after the company&#xa0;<a href="http://investor.fb.com/releasedetail.cfm?ReleaseID=940609">reported its Q3 earnings</a>, beating analyst expectations on the top and bottom line.(h/t <a href="http://thenextweb.com/facebook/2015/11/05/facebook-is-creeping-people-out-with-these-weirdly-polite-messages-in-newsfeeds/">The Next Web</a>)&#xa0; <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/kids-dont-use-facebook-2015-10">We asked a bunch of kids what they think about Facebook</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ttaTNzcTrV3D2fg3UQRLRE5tNi_izNGO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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