Dropbox raises $250 million in a funding, valued at $10 billion


The Wall Street Journal is reporting that Dropbox has raised “about $250 million” at a valuation “close to $10 billion.” Given the crazy valuations of other startups, such as Snapchat, such a high number for Dropbox isn’t too surprising. It has hundreds millions of users and has the personnel in place to start adding value beyond just syncing and storing data.

Dropbox Inc. has closed on about $250 million in a funding round that values the online-storage provider at close to $10 billion, according to two people familiar with the deal. A BlackRock Inc.  investment fund is leading the deal, which is set to include previous backers, said one of these people, who declined to provide more detail. A spokeswoman for Dropbox didn’t respond to requests for comment. At $10 billion, Dropbox is now one of the most highly valued companies backed by venture capitalists. The company’s valuation has more than doubled since late 2011, when investors valued the San Francisco-based company at $4 billion. The company also got a higher price than expected when it approached investors as recently as November.

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