Get the latest Venture Capital & Angel investors news and info Join Our Mailing List:

Your Name: 

Your Email:  

*By submitting your name & email you agree to receive for FREE our scholarships & offers Newsletters. You agree also with the storage and handling of your data by this website and 3rd party email services.
You may unsubscribe if you wish. And you can delete your email and name at any time by emailing us to the email on the bottom of this page.

Follow us on
  • Dropbox raises $250 Million in Series B of Funding

    November 4th, 2011 No comments

    Dropbox, the San Francisco, Calif. – based company providing services which allow people to quickly upload and share their documents, photos and videos, has recently announced the end of the series B of funding which has brought the company an amount of $250 million. This funding round has been led by Index Ventures with the participation of some new investors from Benchmark Capital, Goldman Sachs, Greylock Partners, Institutional Venture Partners, RIT Capital Partners, and Valiant Capital Partners and of the previous investors from Sequoia Capital, Accel Partners, Hadi and Ali Partovi. By now, Dropbox has managed to raise a total of $257.2 million in funding.

    The money raised in this new round of funding is going to be used in order for the company to manage to accelerate its already rapid pace of growth, in order to make new acquisitions, to establish new strategic partnerships and to increase the size of its team.

    Drew Houston, the co-founder and CEO of the company, stated the following: “Our goal has always been to build a service that hundreds of millions of people would love and trust. We’re inspired by the consumers and businesses that depend on Dropbox, and we will continue to make sure that the world’s devices, services, and apps work together seamlessly. We’re thrilled to have such world-class investors joining forces with us.”

    The company intends to simplify the life of its customers around the world by allowing them to upload files such as documents, photos and videos which they can easily share with who they want to. This cloud project has managed to quickly grow due to the increase in demand on the market. At the moment, Dropbox has more than 45 million users from 175 countries around the world who are saving more than one billion files every three days. Moreover, the company intends to triple its user base by the end of this year.

    Danny Rimer, the general partner at Index Ventures, has stated the following: “We are delighted to have led this financing and believe Dropbox has the potential to become an iconic technology company. Over the past four years, Dropbox’s talented team has created a great service with a very strong business model, and we look forward to helping the company build upon this outstanding foundation.”

    For this funding round, the company has been valuated at the value of $4 billion. The fact is that the company grew even more after the PR team at Dropbox has decided to use to their advantage the story according to which Steve Jobs and Apple have tried to purchase Dropbox, but the company refused the deal. It is maybe wrong that they have used the person of Steve Jobs in order to attract interest by the means of the interview published in Forbes magazine, but this has actually helped the company grow incredibly quick.

    The company has been founded by Drew Houston and Arash Ferdowsi in 2007.

Leave a reply

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 267,066 bad guys.


Latest Headlines:

Friday August 31, 2012
Zscaler Secures $38 Million Investment Round

Wednesday November 30, 2011
Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.

Monday November 21, 2011
Panda Power opens $420 Million Fund for Solar and Natural Gas Projects

Thursday November 17, 2011
Better Place raises $200 Million for Electric Cars in the Series C of Funding

Wednesday November 16, 2011
Accel Partners raise $100 Million Big Data Fund to Invest in Hadoop, NoSQL and other Companies

Tuesday November 15, 2011
Skimlinks raises $4.5 Million to help Bloggers Increase their Gains

Monday November 14, 2011
Standing Cloud raises $3 Million to help New Cloud Providers grow Faster

Thursday November 10, 2011
Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility


By using this website you agree with our cookie policy