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. 

Edited by: Tommy Fernandez


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