Cloud data service Dropbox aims to raise as much as $748 million through its initial public offering and a private sale of stock, according to an updated securities registration filed Monday.

The company plans to sell 36 million shares of Class A stock at between $16 and $18, bringing in as much as $648 million, according to the filing with the Securities and Exchange Commission.

As a result, the IPO will be among the largest tech market debuts since Snap in March of 2017.

Dropbox also plans a $100 million sale of stock to the venture capital arm of Salesforce, according to the filing.

According to a Bloomberg calculation, the transaction would value Dropbox at $7.1 billion, less than its $10 billion value during a prior private capital raising effort in 2014.

The company first confidentially filed for an IPO at the start of the year.

The company is currently losing money. While it claims to have 500 million users in 180 countries, it posted only 11 million paying clients at the end of last year.

Apple buys digital magazine subscription service
San Francisco (AFP) March 12, 2018 –

Apple announced Monday it is buying digital magazine subscription service Texture, adding to the side of its business aimed at making money from online content or services.

The iPhone maker did not disclose financial terms of the deal to buy Texture from its owners — publishers Conde Nast, Hearst, Meredith, Rogers Media and global investment firm KKR.

Texture gives subscribers unlimited access to more than 200 magazines, such as Forbes, Esquire, GQ, Wired, People, The Atlantic and National Geographic for a $10 monthly fee.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from many of the world's leading publishers," Apple senior vice president of internet software and service Eddy Cue said in a statement.

"We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users."

The Texture application launched in 2012, the product of a joint venture created two years earlier.

"We could not imagine a better home or future for the service," Texture chief executive John Loughlin said.

Despite Apple's spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth.

While iPhone sales are at the heart of Apple's money-making machine, the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices.

Texture could add digital magazine subscription revenue to that lineup.

Apple reported that it finished last year with cash reserves of $285 billion — much of that stashed overseas.

The company said it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year.

The repatriation will result in a tax bill of about $38 billion, while also freeing up big chunks of money for investment.