Dropbox funding expected to put $8bn value on cloud storage firm

City A.M. Reporter
FAST-GROWING file-sharing and storage startup Dropbox is trying to raise $250m in additional funding in coming weeks, which would value the six-year-old company at more than $8bn, according to reports.

The company may become the latest hot Silicon Valley startup to take advantage of flush investors and stratospheric valuations for fledgling tech companies. Loss-making Twitter is now valued north of $20bn after its debut; Pinterest, which only recently began to clarify its business model, last month won a round of financing that valued the nascent website at $3.8bn.

Dropbox, which is increasingly competing with Microsoft and Google as well as fellow startup Box in the fast-growing field of cloud storage, wants to beef up its sales and engineering teams and acquire technology, Bloomberg reported citing two people with knowledge of its plans.