From a simple cloud storage platform at the start, Dropbox continues to evolve to become a full-fledged collaborative platform. New illustration at the start of the year with the takeover of the Californian start-up HelloSign, specializing in electronic signatures. The amount of the operation is $ 230 million in cash.
Founded in 2010 by Joseph Walla and Neal O’Mara, HelloSign allows its users to put their signature on digital documents. While this is the company’s most popular feature, it isn’t the only one. The San Francisco-based company also offers tools to virtually fax documents, manage document workflows, and turn PDF forms into easy-to-edit digital files.
Dropbox must confirm after successful IPO in 2018
To date, HelloSign has approximately 80,000 customers, including Lyft, Samsung, Twitter and Instacart. Of these, 55,000 use paid subscription services. Supported by the American accelerator Y Combinator, GV (ex-Google Ventures) and Greylock Partners, the company had completed a funding round of $ 16 million in June 2017.
With the acquisition of this Californian company, Dropbox is chasing the lands of DocuSign and Adobe, giants of the electronic signature market. For now, HelloSign, which has a little over 100 employees, will continue to operate independently. Ultimately, the idea is to use the commercial organization of Dropbox to boost the revenues of the newly acquired company, and by extension those of the specialist in online storage. The latter made its IPO in March 2018. The stock market operation allowed Dropbox to collect $ 756 million, against the 500 million initially expected. The company headed by Drew Houston claims more than 500 million users in more than 180 countries, including more than 11 million paying users.