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Dropbox manages to raise over $80 million

Drew Housten

Drew Houston, CEO and co-founder of Dropbox has reason to smile after the company recently managed to raise over $80 million in fresh capital.

Dropbox is worth over $1.6 billion.
Dropbox’s new capital raising makes the backup storage company to one of the world’s most valuable companies still financed by venture capitalists. This means that the value of the company has more than doubled since the valuation that was done in 2011.

A source that the Wall Street Journal has been in contact with reports that the online backup storage company, Dropbox, has recently refreshed its finances. The company shows that it’s worth $1.6 billion, equivalent to just over sixty billion Norwegian kroner.

 

Will focus on software
More than four million businesses use the services of Dropbox today, which has got the company to start selling their own security solutions and other “premium features”.

The fresh capital will among other things go to their software initiative according to the Wall Street Journal.

The American newspaper has previously reported that Dropbox made more than $200 million in 2013, compared with $116 million in 2012 and  $46 million in 2011.

Growth has been tremendous since 2010, when the company reported revenues of $12 million,

 

Pending IPO
Several investment banks and funds have in recent years increasingly invested in the most promising companies from Silicon Valley who stands on the threshold of the IPO or major acquisitions.

Dropbox CEO, Drew Houston, has however no plans on IPO any time soon, stating the following:

“I think the company will probably be listed in the future, but for now we are concentrating on recruitment, establishing a solid foundation and to really create the next generation of solid products”

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