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

Dropbox raises $250 million, now valued at $10 billion, report says
Drew Houston, chief executive officer and co-founder of Dropbox Inc., speaks at a conference in San Francisco. (David Paul Morris / Bloomberg)

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.

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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.

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.

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