The cloud storage service, Dropbox, has seen a massive growth in subscriptions over the last year. They now have 200 million active users, a number that doubled from just over 100 million only a year ago. This massive growth has spurred the board of Dropbox to seek capital funding to the tune of $250 million. This already seems like a massive amount, as it equals the amount they have raised in the past 5 years.
But even more staggering is the valuation that Dropbox’s executives are seeking. They’re putting the company’s worth at over $8 billion, according to the report, pointing to explosive growth as proof of strong momentum.
The cloud service is also making a bigger push than ever before to attract business customers. Already supporting 4 million enterprise customers, Dropbox repackaged its business offerings just last week, making it easier to separate work and personal accounts. And there’s no indication the company plans to slow down anytime soon: CEO Drew Houston recently teased, “We have a lot of stuff cooking.”
Do you think Dropbox has the potential to seek that large of a valuation when raising venture capital?
Source: Bloomberg Businessweek
