Dropbox is the world’s leading cloud storage service, used by over 50 million people worldwide to securely sync files across multiple computers, access documents from anywhere, and share files and folders of any size. Today, over 1 billion files are sync’d across Dropbox every three days – and a new user joins every second. 

Company Creation

The idea for Dropbox was conceived on a bus ride, when founder Drew Houston was frustrated that he had forgotten his USB memory stick at home and began engineering a cloud-based file-sync solution. Knowing he had to be in Silicon Valley to achieve his ambitions, Drew moved to San Francisco together with co-founder Arash Ferdowsi and joined YCombinator, one of Silicon Valley’s most prestigious acceleration programs.

Financing

Through Amidzad Ventures and in partnership with Sequoia Capital, we funded Dropbox’s earliest operations and set the stage for the company’s continued growth. A few months following the investment, Dropbox raised a larger $7.2 million round from Sequoia and Accel.

Growth

The Company has grown rapidly since inception and today has over 50 million users with another joining every second. Over 1 billion files are sync’d across the network every three days. Dropbox recently raised a venture round of $250 million valuing the company at over $4 billion, positioning the company to become one of this decade’s greatest success stories.