Dropbox secures new funding, eyes Cloud storage growth
Posted by Neil Davey in Technology on Mon, 24/10/2011 - 01:13
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Dropbox, one of the most watched companies in Silicon Valley, has raised $250m (£162m) in a Series B round of funding led by Index Ventures, reportedly valuing the company at a whopping $4 billion. (£2.5 billion)
In the announcement made on Monday, the company said it will use the funds to accelerate its rapid growth, make acquisitions, pursue strategic partnerships, and grow the team.
Founded in 2007, Dropbox offers a virtual storage, the service that lets people bring their documents, photos and videos everywhere and share them easily. The company says it has more than 45 million users saving one billion files every three days, and is on track to triple its user base in 2011.
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