1x Msft Share News (MSFT)

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 $21 per share, sources familiar with the matter toldReuters on Thursday, above the raised price range.

At $21, the San Francisco-based company will have a marketcap of about $9.18 billion on a fully diluted share count.

The cloud-based file-storage firm on Wednesday raised theexpected price range by $2 to $18 to $20 per share, on the backof strong demand.The IPO raised about $756 million in the largest tech IPOsince Snap Inc raised $3.9 billion in its debut lastyear. Dropbox shares are set to start trading on Friday at theNasdaq under the symbol "DBX."

The strong pricing bodes well for other highly anticipatedIPOs from tech unicorns, or startups valued at more than $1billion.

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 $3.1billion as of Thursday's close, is its main rival.

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 $1.11 billion in 2017, up 32percent from a year earlier. Its full-year net loss, meanwhile,nearly halved to $111.7 million.

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 New York and Nikhil Subba inBengaluru; Additional reporting by Diptendu LahiriEditing by Dan Burns and Sriraj Kalluvila)