Dropbox raises $350 million in funding

Posted Feb 24, 2014

Dropbox has received $350 million in funding at a $10 billion valuation. It was reported last month that Dropbox raised $250 million from Blackrock, T. Rowe Price, and Fidelity in a final round of private funding before going public.

The funding is believed to have room to go up to $450 million. Allen & Company and Goldman Sachs handled this deal. Dropbox’s 2013 revenues are believed to have hit around $200 million.

Dropbox is a cloud storage company that has free and paid options. The company hired Dennis Woodside as their first chief operating officer this month. Woodside used to be the head of Motorola Mobility. Dropbox rival Box recently filed to go public confidentially.

[Source: Fortune/SEC Form D]