Report: Dropbox Eyeing $8 Billion Valuation
New reports are circulating that Dropbox wants to be worth $8 billion as part of a new round of funding.
Reports Ashlee Vance in Businessweek:
Dropbox will look to raise $250 million more in the next few weeks, according to two people with knowledge of the company’s plans, who asked not to be identified because the discussions are private. The company, these people say, seeks a valuation north of $8 billion, or more than double its last round, which closed in Oct. 2011.
#insert RSS here#
We've heard this story before. In 2011, rumors swirled about a massive round Dropbox was raising. Back then it was rumored to be getting offers at $8 billion valuation and then it was said to be at $5 billion. In the end, its valuation at that time was $4 billion.
Dropbox has raised $312 million to date, Vance reports. It says it has over 200 million users and 4 million businesses.
But it's facing stiff competition. Google and Microsoft both offer file sharing services that are included with Android or Windows devices. Box, too, has done particularly well with enterprise business users.
We first saw news of the big funding round via Bloomberg tech reporter Ari Levy in a tweet:
Entrepreneur Editors' Picks
Kale Was a Garnish Before This Creative Genius Made It Famous. Here's How She Did It — and What She's Planning Next.
Telling Your Brand Story Is Crucial. 4 Steps to Ensure That It Resonates.
This Baker Was Told Not to Speak Spanish With Colleagues, So She Started Her Own Cake Company That Values Employees Just as Much as Customers
Improving Yourself Takes 9.6 Minutes of Work Each Day
Meet the Women Behind Some of McDonald's Most Iconic (and Essential) Ingredients — and How They're Setting New Standards
Remote Work Shouldn't Be Up for Debate
Employees Are Over Foosball Tables and Free Snacks. Your Company Culture Needs This Instead.