Dropbox Seeks Funding, Values Firm at $8 Billion
Dropbox is attempting to raise $250 million in funding this year, which would value the firm at $8 billion.
The file-sharing service, used to transfer files across the Web through virtual folders, is looking to raise the funds within the next few weeks, according to Bloomberg. Citing people with knowledge of the matter, the publication says that while Dropbox is yet to use up $250 million generated from its previous funding round in Oct 2011, the firm wants additional capital to expand the corporate side of the business.
In the consumer realm, Dropbox is a popular method for transferring and sharing files for free. The service is available for free, and there is an option to open a premium account -- depending on how much space you require and what additional features you need. To date, over 200 million accounts have been opened.
However, the company wants to gain traction in the business realm. Besieged by rival services including Box and Google Drive, despite Dropbox's rapid growth, consumers may not cut it alone if the firm is going to establish itself and survive long in to the future.