Dropbox Buys Mobile Coupon Company Endorse
Endorse is a mobile coupon company that shut down their app about a month ago. Endorse has been acquired by file storage company Dropbox. Endorse raised $4.25 million in funding from Accel Partners and SV Angel in 2010.
Endorse launched a web version of their product before launching their mobile app this past August. Users of the mobile app were given until the end of June to transfer cash that they accrued to their bank accounts. The terms of the deal was undisclosed.
Endorse has over ten employees and a majority of them will be joining the Dropbox team following the acquisition. One of the hires is Steve Carpenter. Carpenter started Endorse while he was an entrepreneur-in-resident (EIR) at Accel Partners.
Carpenter sold his previous company Cake Financial to E*Trade in 2010. Endorse’s chief technology officer is Erik Klein, who held engineering roles at SofaLabs and YouTube. Mayrose Dunton, the head of product at YouTube, is joining Endorse along with former lead engineer for YouTube ads Franck Chastagnol.
This is one of Dropbox’s many acquisitions within the last year. Dropbox acquired photo storage company Snapjoy recently along with mobile e-mail management company Mailbox. Dropbox also poached execs at Facebook and Google like Tim Van Damme (former Facebook Instagram designer), Guido Van Rossum (former Google designer), and Soleio Cuervo (former Facebook designer).