Apparently there is this thing called the Internet, and people intend to make loads of money from it.
Portfolio managers at Fidelity
, Morgan Stanley
and T. Rowe
are betting $250 million in the possibility of an IPO by online file-sharing and storage dot-com startup Dropbox, reports Reuers
The newswire notes that two funds run by Fido PM Will Danoff
, the Contrafund
and Fidelity Advisor New Insights
have invested $83.1 million. Other funds that have invested heavily in the company are Morgan Stanley Institutional Mid-Cap Growth Fund
, with $47.4 million, and the T. Rowe Price Mid-Cap Growth Fund
with $38.2 million.
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