Dropbox has reportedly raised 250 million dollars in its funding round, putting the company”s valuation at 10 billion dollars. It is the second time the cloud file hosting service has raised the amount, after 2011 in a round that included Goldman Sachs, Sequoia, Index Ventures and Accel Partners. According to Tech Crunch, in November, based on market estimates about an additional 250 million dollars raise, the company was speculated to reach a valuation of 8 billion dollars.
However, the fact that Dropbox raised at a 10 billion dollars valuation instead of 8 billion dollars could indicate that the round was competitive, with third parties bidding for a chance to scoop up Dropbox shares. The report said that prior to the current raise, Dropbox has collected 257 million dollars in funding. Other companies in the same billion dollars worth pre-IPO valuation include Twitter, at 10 billion dollars in May 2013, Google with a 2.7 billion dollars valuation; and Box, which is a direct Dropbox competitor had a valuation of 2 billion dollars when it raised 100 million dollars late last year, the report added. (ANI)