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."