BusinessTechnology Now

Dropbox raises $250 million, now valued at $10 billion, report says

The Wall Street Journal

Dropbox has reportedly closed another round of funding, raising $250 million for a $10-billion valuation.

The latest round of investments was led by BlackRock Inc., according to the Wall Street Journal, which cites unnamed sources for its Friday report. A spokeswoman for Dropbox declined to comment. 

The San Francisco company specializes in cloud-storage software that lets users save items within a file on their computer that they can then access from any other device after logging into their account.

PHOTOS: Top 10 tech gadgets we want to see in 2014

Dropbox gives 2 GB of free storage to users, but charges them if they want more space than that.

According to the Journal, Dropbox expected sales of $200 million in 2013, up from $116 million in 2012.

With the latest round of funding, Dropbox is now one of the most highly valued venture capitalist-backed companies. Dropbox is expected to be one of the next major tech companies to hold an initial public offering.

ALSO:

3D printed chocolate objects: Hershey partners with 3D Systems

T-Mobile announces Macklemore concert as fight with AT&T escalates

Confusion with Google Nest acquisition causes penny stock to jump 1,900%

Copyright © 2014, Los Angeles Times
Related Content
The Wall Street Journal
Comments
Loading