Friday, March 23, 2018

Dropbox shares pop 40% in IPO

Shares in Dropbox popped by over 40% to over $29 on the first day of trading on Nasdaq.

The Nasdaq listing is DBX.  The initial public offering (IPO) price range as $18 to $20.

Dropbox passed the milestone of over 500 million registered users in March 2016. At the time, the Dropbox API was generating over 500 billion calls per year.  Collectively, these users have made 4.5 billion connections to share content.

Tintri's CFO Steps Down

Tintri, which supplies enterprise cloud storage solutions, announced that Ian Halifax, CFO at Tintri, will leave the company on April 30, 2018. The company said the departure is not based on any disagreement with the company’s accounting principles or practices or financial statement disclosures.

Earlier this month, named Tom Barton as its new CEO, replacing Ken Klein, who departed following the company's recent and disappointing Q4 financial report.
Barton previously served as CEO of Rackable Systems and held senior executive roles at Planet Labs, Canara and Red Hat.

In December, Tintro reported quarterly revenue of $31.8 million, down 6% year-over-year There was a quarterly net loss per share of ($1.21) per share GAAP, and ($0.79) per share non-GAAP. At the time, the company said it was reviewing its strategic options.

Tintri completed its IPO on 30-June-2017.

Qualcomm's Board is Reelected

Qualcomm announced that all 10 of its Director nominees have been re-elected to the Qualcomm Board of Directors: Barbara T. Alexander, Jeffrey W. Henderson, Thomas W. Horton, Ann M. Livermore, Harish Manwani, Mark D. McLaughlin, Steve Mollenkopf, Clark T. “Sandy” Randt, Jr., Francisco Ros, and Anthony J. Vinciquerra.

Qualcomm Board will not renominate Paul Jacobs


Qualcomm's Board of Directors will not renominate Dr. Paul Jacobs as a director. The decision was taken after Jabos informed the Board that he is exploring the possibility of making a proposal to acquire Qualcomm. Dr. Jacobs relinquished his role as Executive Chairman of the Qualcomm Board of Directors last week, days prior to President's decision to block Broadcom's proposed acquisitio...


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