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)
(c) 2014 aninews.in All rights reserved. Provided by Syndigate.info, an Albawaba.com company
Original headline: Dropbox raises $250mn in funding, shooting valuation up to $10bn
Most Popular Stories
- 'Lucy's' Super Powers Tops 'Hercules' at Box Office
- The Rise and Fall of Richard Alarcon
- U.N. Renews Demand for Gaza Cease-Fire
- Nissan Profits Rise on Growth in U.S., China
- 'Sharknado' Sequel Has Bite and Lots of Laughs
- Vancrest Assisted Living Project to Add 20 Jobs
- The 2014 Fastest-Growing 100
- Pending Home Sales Slipped in June
- Shania Twain's Vegas residency ending after 110 shows
- Fighting Blocks Investigators, Police From MH17 Crash Site