![]() Salesforce's deal with Dropbox will close as soon as Dropbox officially goes public, Dropbox said in a regulatory filing on Monday in which the $100 million Salesforce investment was first disclosed. In a note published on Monday, Stifel said there are only 16 companies that Salesforce Ventures has put more than $10 million into, with the highest investment being $90 million. ![]() It also has $50 million for Salesforce-specific artificial intelligence, and a $100 million fund for European and Israeli cloud startups.īut the investments are typically much smaller. Salesforce Ventures, the in-house venture arm of the cloud services company, currently has five active investment funds, including $100 million specifically for companies building apps on the Salesforce platform. The $100 million price tag is unusually high for Salesforce Ventures There is "no chance" of an acquisition happening ahead of the IPO, Roderick said. "I certainly don't see anything imminent, but with the IPO pricing at a discount to Dropbox's last round, I'm guessing Salesforce sees an attractive valuation on a valued partner."īut don't expect Salesforce to swoop in and buy Dropbox on the eve of the IPO, the way Cisco acquired AppDynamics right before its IPO in January 2017. "If you wanted to think what Salesforce sees down the line with Dropbox, it's not too hard to think about Dropbox being an appealing acquisition," Roderick said. Tom Roderick, managing director at Stifel, said that product synergies between Salesforce and Dropbox "make a lot of sense," which could mean that Salesforce sees a Dropbox acquisition in the long-term. Dropbox is seeking to go public with a $7.5 billion valuation, which is significantly below the $10 billion it was last valued at in the private markets. In the private placement, Salesforce will buy 5.9 million Dropbox shares at $17 each - the midpoint of the $16 to $18 per share range Dropbox indicated it will price shares at IPO.
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