Dropbox is expecting to raise $250 Million in the coming weeks seeking the company’s valuation of $8 Billion upwards. Company has already received funding of $257 Million in the early years from Sequoia Capital, Accel Partners, Y Combinator, Bono and Edge.
Company’s Spokeswoman Anna Andreescu told BusinessWeek, “What we can say is that with over 200 million users and 4 million businesses, Dropbox has continued a strong momentum”.
Dropbox has yet to use all its cash reserves from the previous funding. With these new additional funds, Dropbox could further strengthen its business plans and work in creating new opportunities. Dropbox has already rolled out services for Business houses that are ready to pay for storage and file Synchronization services.
Most of the Funding will be spent on acquiring and developing new technology. Dropbox is also expected to set up a sales team dedicated solely in to getting the corporate clients.
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