Posts tagged $250
Dropbox Raises $250 Million of Series B Funding
Oct 19th
Dropbox, which enables users to easily store and share documents, photos, videos, and other files, recently announced they closed a $250 million round of Series B funding. The popular file sharing and storage service has over 45 million users that collectively save one billion files every three days and a reported $4 billion valuation.
Index Ventures led the $250 million round of financing, which also included participation from nine other investors including Sequoia Capital, Accel Partners, and Goldman Sachs. Drew Houston, Dropbox’s CEO and co-founder, said the following:
“Our goal has always been to build a service that hundreds of millions of people would love and trust. We’re inspired by the consumers and businesses who depend on Dropbox, and we will continue to make sure that the world’s devices, services, and apps work together seamlessly. We’re thrilled to have such world-class investors joining forces with us.”
Although Apple presented Dropbox a prospective nine-digit buyout offer in 2009, the co-founders decided to reject the offer. The management team is focused on growing the service to have “billions not millions” of users in the near future.
Dropbox, which was founded in San Francisco in 2007, has now raised a total of $257.2 million and plans to use this funding to compete with tech giants Google and Apple. The funding will be used to acquire companies, accelerate growth, develop the Dropbox team, and pursue strategic partnerships moving forward.
The co-founders hope to develop one application that enables users to effortlessly share files between computers, phones, and eventually vehicles and televisions.
Dropbox currently offers a free service that provides 2 gigabytes of storage, a $9.99 per month option that provides 50 GB, and an option for 100 GB at $19.99 per month. Although approximately 96% of Dropbox’s 45 million users choose the free option, sources indicate the company expects to generate $240 million of revenue this year.
[Sources Include: Dropbox, CNET & The Wall Street Jounal]
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Amazon to Launch a $250 7-inch Android-based Tablet in November
Sep 2nd
As widely expected, Amazon will indeed be launching an Android-based tablet device before the end of this year. Rather than a launching a new product line, the company is simply updating its existing Kindle product to be a full color, multi-touch, 7″ tablet that will sell for $250.
Several details about the device, which has been rumored for the last year or so, were revealed by Techcrunch’s M.G. Siegler, who had a chance to see it and test it out.
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In terms of its form factor, Siegler describes a black, Blackberry Playbook-style device with a rubber back and little in the way of physical buttons. Instead, the UI is mostly touch-based. While it’s based on Android, it appears to be a fork of the original OS, radically altered to match Amazon’s branding. The result is a design and user experience that bears only a limited resemblance to what Android users are used to.
Instead of Google’s apps, the device will be tightly integrated with Amazon’s services. In addition to the obvious choice of the Kindle app for reading, it will sport Amazon Cloud Player for music, Instant Video Player for movies and even Amazon’s Android App Store, rather than Google’s. Presumably Amazon will continue to build out this new fork of Android independently of Google, which explains why they’ve been hiring so many Android developers.
The device is expected to launch in late November and if it sells well, we may see a 10-inch version before long.
Rumors first started circulating that Amazon was working on a tablet device late last summer. Since then, that speculation turned into inevitable reality as more details leaked and Amazon began ordering the parts necessary to build a device with a touch screen. Even though the product has not been formally announced, analysts are already scrambling to predict what kind of an impact it will have. Forrester, for example, has said the device could sell as many as 5 million units in the fourth quarter.
At $250, the new Kindle will cost half as much as the least expensive iPad, which currently dominates the tablet market in the U.S.
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IMF Plans to Seek $250 Billion Increase in Lending Capacity at G-20 Summit – Bloomberg
Jul 18th
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IMF Plans to Seek $250 Billion Increase in Lending Capacity at G-20 Summit
Bloomberg The International Monetary Fund is seeking a boost in its lending resources to $1 trillion, from the current $750 billion, … |
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