Report: Dropbox Wants To Be Valued At $US8 Billion With A New Funding Round

Drew HoustonJohannes Simon/Getty ImagesDropbox CEO Drew Houston

New reports are circulating that Dropbox wants to be worth $US8 billion as part of a new round of funding.

Reports Ashlee Vance in Businessweek:

Dropbox will look to raise $US250 million more in the next few weeks, according to two people with knowledge of the company’s plans, who asked not to be identified because the discussions are private. The company, these people say, seeks a valuation north of $US8 billion, or more than double its last round, which closed in Oct. 2011.

We’ve heard this story before. In 2011, rumours swirled about a massive round Dropbox was raising. Back then it was rumoured to be getting offers at $8 billion valuation and then it was said to be at $US5 billion. In the end, its valuation at that time was $US4 billion.

Box has raised $US312 million to date, Vance reports. It says it has over 200 million users and 4 million businesses.

But it’s facing stiff competition. Google and Microsoft both offer file sharing services that are included with Android or Windows devices. Box, too, has done particularly well with enterprise business users.

We first saw news of the big funding round via Bloomberg tech reporter Ari Levy in a tweet:

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

dropbox sai-us