Investors Value Dropbox At Over $5 Billion
Investors Value Dropbox At Over $5 Billion
Posted 08/14/2011 at 10:27am
| by Justin Kerr
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Dropbox has come under fire recently over a series of security snafu’s, but even with all the negative press, it remains a utility with no equal for users who are trying to get work done on multiple machines and devices. Given how ubiquitous the service has become since it launched back in 2007, we expected they would have no trouble locking down additional funding from investors, and we were right.
According to TechCrunch the rumors which pointed to a possible 5 billion dollar valuation were not just accurate, they might be a bit on the low side. Investors are said to be clamoring for a piece of the file syncing service, and it’s estimated the final valuation it could go as high as 6 billion, netting Dropbox founders Drew Houston and Aarsh Ferdowsi up to 300 million in additional funding.
We still won’t have the final number for a couple weeks, but it’s safe to say if you’ve got files tucked away in your Dropbox have no fear, 300 Million buys a ton of hard drives.
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tornato7
August 14, 2011 at 8:31pm
Dropbox is overpriced. I use google docs with a sync service as my cloud storage. it costs $25 per year for 100gb as opposed to $20 per MONTH for 100gb with dropbox.
Zoandar
August 14, 2011 at 8:02pm
Having never used Dropbox, I have to ask how these investors are going to see a profit on their $5Billion? Is it really expensive to use Dropbox or something?
d3v
August 14, 2011 at 9:33pm
Yeah its the beginning of another bubble. Crazy valutations. Still you've got to hand it to these guys for taking an old concep, free file hosting, and giving it a unique money making spin.
TheElite1x721987
August 14, 2011 at 5:03pm
Is it just me or are people valuing internet companies WAY higher then they should? Facebook? 70 billion or some crap. Dropbox? 5 Billion? um....WHAT!!?! No doubt these are valuable companies but these many multi BILLION dollar figures seem way outa proportion. I think another dot com bubble burst is coming....
BrianMcCulloch
August 26, 2011 at 9:50am
LOL, I think you're spot on. I seriously have no idea how they could value them that highly when there are tons of other free online storage services! I still prefer my flash drive and external to putting anything online... just don't trust that my information won't drop right through the clouds!
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