Shares of DigitalOcean, a small cloud provider that competes with giants like Amazon Web Services and Microsoft, dropped nearly 10% in their first day of trading, after the company raised $775 million in its initial public offering. The results suggest that investors aren’t sure about DigitalOcean’s prospects in a market dominated by larger companies. While DigitalOcean’s revenue grew 25% last...
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DigitalOcean Raises $775 Million in IPO, But Shares Drop 10%
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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