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Dropbox to start trading after strong IPO

The file-sharing company sold shares at $21 a piece in its initial public offering, according to a report, and will begin trading Friday on Nasdaq.


Dropbox shares went for more than expected.


Investors want a piece of Dropbox and apparently paid more for it than expected.  

The company raised $756 million in its initial public offering, Bloomberg reported, citing someone familiar with the information.

Dropbox sold 36 million shares in its IPO at $21 each, according to the report. Initially, shares were expected to sell in the $16 to $18 range. The increased price signals that demand from investors was higher than anticipated.

The file-sharing company will start trading on Nasdaq at some point Friday under the symbol "DBX."

Dropbox didn't immediately respond to CNET's request for comment. The file-sharing company submitted paperwork for its IPO in February.