Dropbox Hits 45 Million Users and Raises $250 Million

Dropbox is a web-based file hosting service and the blooming Y Combinator alumni with a well-known cross-platform and cloud-based file storage system. The company has recently hit $250 million in Series B financing and is hoping to triple its user base by the end of this year.

According to a statement released on Tuesday, the company revealed that it has over 45 million users saving over one billion files every three day.

The CEO of company Drew Houston told that the company is aiming to raise $240 million in revenue this year. One can find similar remarks on a profile in Forbes on Dropbox.

The close competitor of Dropbox, the Box.net recently announced its revenue details which stand at $81 million. In order to raise its revenues as well as user base, Box is offering 50GB of free storage to iOS users.

Apple has recently announced its iCloud, which is a major cause of concern for Dropbox. We have also come to know through Forbes that Apple was interested in the Dropbox as it considered it a ‘strategic asset’ and for this purpose also offered an undisclosed nine-digit offer to Dropbox in 2009, which was rejected by the latter.

Forbes while detailing the Houston’s account of the meeting stated, “Jobs smiled warmly as he told them he was going after their market.” Houston further added, “He said we were a feature, not a product.”

Surprisingly, Dropbox has only a team of 70 employees that are responsible for company’s current status. Index Ventures along with several other new and existing investors led the startup’s Series B round. The company has raised $257.2 million until the present time.

Although, Dropbox didn’t like the idea of sharing its worth with us, we can assume that the Dropbox estimated value at the moment is somewhere around $4 billion.

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