According to BuzzFeed report, American cloud storage company Dropbox plans to authorize the sales of a batch of shares with 34% off. It seems that the company faces with valuation pressure.

It sets the price at $12.6 per share, selling in the secondary market by shareholders. Dropbox priced its share at $19.10 when it sold to large-size investors in C round financing in Jan., 2014.

EquityZen is responsible for this deal which helps the startups employees and shareholders to sell the undocumented shares. EquityZen stated on its official website that all stock exchanges made on its platform are authorized by related enterprises.

Dropbox was established in 2007 that locates in San Francisco. The high valuations startups face adverse condition as its $10 billion valuation was doubted. It reported last autumn that two mutual fund companies reduced 20% off Dropbox’s valuation. Then a third mutual fund company reduced 51% off its valuation.

It is hard to valued the startups due to the lower turnover rate. Many of Dropbox investors could refer the case of Box. The share price of Box decreased by 47% in comparison with its closing price that it went public on the day in 2015.

The investors who involved with this deal won’t be able to purchase shares directly. They have to buy EquityZen funds and then use those funds to buy the shares.

The investors are under a weak position if they buy the shares by this mean in comparison to the directly investment of Dropbox with capital. EquityZen stated in the papers that this investment won’t include any specific details of Dropbox’s financial condition.