Dropbox Round Finalized: $350M at $10B Valuation
The cloud storage company Dropbox today filed paperwork on its latest massive funding round, basically consistent with previously reported details. The round is $350 million at a valuation of $10 billion, the company confirmed.
Though Dropbox would not say, the key investors are BlackRock, Fidelity and T. Rowe Price, as Re/code previously reported.
The funding will be used for recruiting, international expansion and product development, Dropbox said.
Today’s SEC filing is for $325 million. An additional $25 million is being added by a strategic investor, said a source familiar with the company. While the filing said the company could raise up to $450 million, the source said it plans to stop at $350 million.
In 2011, Dropbox raised $250 million at a valuation of $4 billion.