no comments

Dropbox files for IPO

Dropbox filed to go public on Friday afternoon, and its upcoming public offering is poised to be the biggest tech listing since Snap filed last spring.

The company, which reported just over $1bn in revenues last year, is continuing the tech tradition of dual-class shares, which which will concentrate power in the hands of its two co-founders and early investors. 

The Dropbox prospectus even allows for a potential third class of shares with zero voting power, as Hannah Kuchler and Tom Braithwaite detail in their story here. The transfer raises the query of whether or not Dropbox will probably be included in inventory indices which have just lately began cracking down on dual-class share constructions. 

There is a parallel right here with Snap, which additionally listed with a dual-class share construction that has allowed founder Evan Spiegel to take care of outsize voting energy.

Though dual-class shares have been criticised by the Securities and Change Fee, Mr Spiegel appears to be rising from all of it proper. In 2017 his complete compensation was $638m, making him possible the very best paid chief govt within the US final yr. Learn Tim Bradshaw’s story here for extra. 

One query we might prefer to ask about Dropbox’s IPO: how will going public impression their famously gourmand workplace canteen?

Flag as Necessary

Do not miss this scoop from Tim Bradshaw and Arash Massoudi, who report that Magic Leap, the secretive augmented actuality startup, is in talks to lift as a lot as $400m from Saudi Arabia’s sovereign wealth fund. 

Bitcoin after the bubble: is the crypto revolution right here to remain? Click here to purchase tickets for a dialogue on the FT in London on February 27 at 6.30pm, with David Gerard, Alex Batlin and Hannah Murphy. 

The economics of Massive Tech: Martin Sandbu has simply concluded a five-part sequence in his Free Lunch publication on the economics of Massive Tech. After analysing market failures within the digital economic system and examined the economic harms they trigger, he seems at three kinds of coverage options – together with some radical ones: taxing Big Tech better, intervening within the market structure of on-line companies, and regulating the conduct of internet giants immediately.


Amazon just lately obtained patents for a bracelet that tracks its employees’ motion. However efforts to make use of tech to supervise human employees are hardly new, argues Stephen Mihm in Bloomberg.

Airbnb is planning to broaden its providing of guided excursions and journey excursions, bringing the product to 1,000 cities by the top of the yr. CNET has the story here

Tech instruments you should utilize – a resort in house

Elon Musk needs to go to Mars. However what about these of us who merely wish to hang around for a number of days in outer house? That might be simply three years away, in response to billionaire Robert Bigelow. He owns the resort chain Finances Suites of American and now has his sights set on a brand new market: an area station that would function a type of resort for guests. This may not be acceptable for price range vacationers although — the price will probably be within the “low eight figures”. Megan Barber has the story in Curbed. 

Source link