By Liana B. Baker and Nikhil Subba
March 22 (Reuters) - Dropbox Inc's initial publicoffering, the largest tech stock debut in more than a year, waspriced at
At
The cloud-based file-storage firm on Wednesday raised theexpected price range by
The strong pricing bodes well for other highly anticipatedIPOs from tech unicorns, or startups valued at more than
Streaming music leader Spotify Technology SA isscheduled to do a direct listing of shares on the New York StockExchange on April 3.
Dropbox has 500 million users and competes with AlphabetInc's Google, Microsoft Corp and Amazon.comInc.
Box Inc, which had a market value of about
Dropbox co-founder and Chief Executive Officer AndrewHouston will have a 24 percent of the company after selling 2.3million shares in the offering.
Venture capital firm Sequoia Capital will retain a stake ofabout 25 percent.
Dropbox reported revenue of
Goldman Sachs & Co LLC, J.P. Morgan, Deutsche BankSecurities, Allen & Company LLC and Bank of America MerrillLynch are among lead underwriters to the offering.(Reporting by Liana Baker in