[dharmon]

The last raise was two years ago, so if you figure the current valuation based on recent markdowns, then this price is more inline with what you might expect from common equity vs. preferred.

I am curious, will these secondary shares have the same lockup restrictions that employees face after the IPO?

I am also curious how the market will price Box vs. Dropbox. I would expect them to mostly move in tandem, but with Thiel propagating his "myth of the monopoly", maybe people will consider any positive developments at one to be negative for the other?

At any rate, I expect it will be rough roads ahead.