Dropbox Fundraising Could Actually Be as Much as $400 Million
Dropbox’s latest funding round values the company at $10 billion, with private equity giant BlackRock leading the deal with participation with existing investors.
But while the round is currently worth $250 million, as the Wall Street Journal first reported earlier today, the online syncing and storage company is in discussions with two other investors to top it off, sources said.
What’s still in flux is an additional $100 million to $150 million that mutual fund giants Fidelity and T. Rowe Price — who have already invested in Dropbox — are angling to add to the round, again at the $10 billion pre-money valuation. Both had considered a bigger investment, but BlackRock apparently swooped in and quickly made the initial giant commitment.
Dropbox declined to comment.
The startup, which is expected to go public this year, had previously raised $250 million in 2011 at a valuation of $4 billion.
Its other current investors include Sequoia Capital, Accel Partners, Index Ventures, Benchmark, Institutional Venture Partners and Greylock Partners.
Dropbox recently rebuilt its service, in order to accommodate companies by allowing users to have both personal and corporate accounts simultaneously.
The Journal reported the company had estimated sales of $200 million in 2013.