Head in the Clouds: Dropbox Reportedly Valued at $10 Billion
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Move over, Pinterest and Snapchat. Dropbox is reportedly sporting a $10 billion price tag, making it one of the most highly-valued venture-backed companies in the world.
In its latest round of fundraising led by BlackRock — and with participation by existing investors — the San Francisco-headquartered file hosting service raised at a valuation of $10 billion, according to reports. The company has raised since its founding.
Related: Why Tech Valuations Can’t Be Too High or Too Low
New funds will accelerate Dropbox’s , where it sells security and other premium features to the roughly 4 million businesses that currently use its service, reports The Wall Street Journal. The company posted over $200 million in sales for 2013 — almost double the $116 million it saw in 2012, sources said. The latest round of funding also reignited chatter on Wall Street about the company’s expected IPO this year.
Even Dropbox’s competitors — namely Box, which raised $100 million in December to garner a $2 billion valuation — are praising its latest feat. Box’s co-founder and CEO, Aaron Levie, , “Congrats [Dropbox’s founder and CEO]! One small step for the cloud, one giant leap for boxes.”
Dropbox is hardly the only tech company with an eye-popping valuation. Pinterest has an estimated value of $3.8 billion, while and are each valued at $3.5 billion.
Related: Dropbox Revamps Business Service, Adds a New Feature
Move over, Pinterest and Snapchat. Dropbox is reportedly sporting a $10 billion price tag, making it one of the most highly-valued venture-backed companies in the world.
In its latest round of fundraising led by BlackRock — and with participation by existing investors — the San Francisco-headquartered file hosting service raised at a valuation of $10 billion, according to reports. The company has raised since its founding.
Related: Why Tech Valuations Can’t Be Too High or Too Low
New funds will accelerate Dropbox’s , where it sells security and other premium features to the roughly 4 million businesses that currently use its service, reports The Wall Street Journal. The company posted over $200 million in sales for 2013 — almost double the $116 million it saw in 2012, sources said. The latest round of funding also reignited chatter on Wall Street about the company’s expected IPO this year.
Even Dropbox’s competitors — namely Box, which raised $100 million in December to garner a $2 billion valuation — are praising its latest feat. Box’s co-founder and CEO, Aaron Levie, , “Congrats [Dropbox’s founder and CEO]! One small step for the cloud, one giant leap for boxes.”
Dropbox is hardly the only tech company with an eye-popping valuation. Pinterest has an estimated value of $3.8 billion, while and are each valued at $3.5 billion.
Related: Dropbox Revamps Business Service, Adds a New Feature
