Tuesday, October 18, 2011

Dropbox Confirms $250 Million Investment

Dropbox - Secure backup, sync and sharing made easy.

Dropbox, the online storage company, confirmed on Tuesday that it had raised $250 million in its latest fund-raising round, an investment that values the company at $4 billion, according to people close to the company.

The round was led by venture capital firm Index Ventures and featured several new investors, including Goldman Sachs, Benchmark Capital, Greylock Partners, Institutional Venture Partners, RIT Capital Partners and Valiant Capital Partners. Two previous venture capital investors, Sequoia Capital and Accel Partners, also participated.

 Dropbox, a four-year-old company founded by two former Massachusetts Institute of Technology students, Drew Houston and Arash Ferdowsi, said it would use the money for acquisitions, partnerships and growth.

Do you use Dropbox? Watch out for a review of Dropbox in coming days.

Source: NYTimes and Dropbox


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