Monday, October 17, 2011

Investors Pour $250 Million into Dropbox

Dropbox, a start-up based in San Francisco, raised $250 million in Series B financing for its online storage service. Dropbox currently has 45 million users who are collectively saving one billion files every three days. The company offers 2GB of free storage for Windows, Mac, Linux and mobile users. Subscriptions up to 100GB available. The service easily lets users share large files will friends, classmates and colleagues. Dropbox is seeking to extend its service to consumer devices and applications.

The financing was led by Index Ventures and includes participation from new investors Benchmark Capital, Goldman Sachs, Greylock Partners, Institutional Venture Partners, RIT Capital Partners, and Valiant Capital Partners. Early investors Sequoia Capital, Accel Partners, and Hadi and Ali Partovi also participated. Dropbox has received a total of $257.2 million in funding.

  • Dropbox was founded in San Francisco in 2007 by Drew Houston and Arash Ferdowsi, both M.I.T. alums.