News Column

Dropbox Raises $250 Million

January 18, 2014


Washington, Jan. 18 (ANI): Dropbox has reportedly raised $250 million in its funding round, putting the company's valuation at 10 billion dollars.

It is the second time the cloud file hosting service has raised the amount, after 2011 in a round that included Goldman Sachs, Sequoia, Index Ventures and Accel Partners.

According to Tech Crunch, in November, based on market estimates about an additional $250 million raise, the company was speculated to reach a valuation of $8 billion.

However, the fact that Dropbox raised at a 10 billion dollars valuation instead of $8 billion could indicate that the round was competitive, with third parties bidding for a chance to scoop up Dropbox shares.

The report said that prior to the current raise, Dropbox has collected $257 million in funding.

Other companies in the same billion dollars worth pre-IPO valuation include Twitter, at $10 billion in May 2013, Google with a $2.7 billion valuation; and Box, which is a direct Dropbox competitor had a valuation of $2 billion when it raised $100 million late last year, the report added. (ANI)

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Original headline: Dropbox raises $250mn in funding, shooting valuation up to $10bn

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Source: Asian News International