Cloud Tech

Dropbox Thinks It’s Worth 8 Billion

It looks like even cloud’s biggest names still have room to grow. Seeking funding for future business expansions, Dropbox is currently looking to raise $250 million in the next several weeks and bring its estimated valuation to around $8 billion.

Though CEO Drew Houston recently stated that they still have plenty of money left over from the last funding round, he is hoping to increase Dropbox’s presence with businesses in addition to your average consumer. Dropbox reported around 200 million users this year, and more than 4 million businesses now use their services compared to 2 million a year ago.

Moving into the corporate world will require a fairly major extension of resources, likely including new technology to accommodate a deeper corporate infrastructure and a dedicated sales team to market specifically to large companies. This move would put them in the arena with the likes of Amazon and Google, so even with a fantastic funding base Drew Houston has his work cut out for him.

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