It’s officially official.
After months of press leaks, Dropbox announced it raised $250 million at a $4 billion valuation.
Even though the company says its profitable and growing like gangbusters, it needs the money because competition is suddenly very intense.
To promote the funding, Forbes runs down Dropbox’s incredible 3 year run to become a $4 billion company.
Some of the highlights from the story:
Apple did try to buy Dropbox, as we reported earlier. Steve Jobs made the pitch himself, telling Dropbox it was just a feature, not a product. Dropbox founder Drew Houston says he told Jobs he didn’t want to sell. He wanted to build a big company.
Will.I.Am of Black Eyed Peas said he used Dropbox when he made the song, “I’ve Got A Feeling.” Depending on how you feel about music, this could make you love Dropbox, or it could make you secretly resentful of Dropbox.
Dropbox has a deal with HTC to make it the default storage system on its phones. Considering Google is a key HTC partner this is big. Mobile is the best use case for Dropbox.
*Maybe we’re missing something here, but iCloud doesn’t seem to be a real competitor to Dropbox yet. You can’t just toss all your files into iCloud and have them with you. Maybe it will expand in the future, but for now, it’s nothing special.