Dropbox chief Drew Houston is preparing for life as a public company executive.
In an interview with the FT after Wednesday’s launch of Carousel, a new photo-sharing app, and a suite of other new products, Mr Houston didn’t even wait for the inevitable question about an initial public offering to address the topic.
“We will continue to surround the company with great advisors, board members and other folks who have public company experience,” he said. “I’m not worried about the tactical side of operating as a public company.”
Dropbox chief executive Drew Houston didn’t mention iCloud once during his presentation at the cloud storage company’s first ever developer conference on Tuesday. But as Dropbox rolls out its new platform tools – allowing apps to synchronise not just files and folders but progress in games, realtime sketches or any other kind of data from one device to another – it’s clear that Apple was the unnamed competitor that Mr Houston has to take on.
SkyDox, the online document sharing company, has bought its larger US rival Workshare and raised £20m from venture capital groups in order to create a stronger UK challenger in the market for online work collaboration.
Anthony Foy, chief executive of Brick Lane-based SkyDox, said the combination of the two companies, which creates an entity with annual revenues of around £20m, would allow them to better challenge rivals such as Box and Dropbox in a fast-growing market.
It seems that August’s stock market mayhem has done little to deflate the latest internet bubble – at least, when it comes to private companies with strong growth prospects and some traction in their business models. The latest case in point: Workday.
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Cloud storage service Dropbox is looking to raise between $200m-$300m in a new round of fundraising, according to TechCrunch. This gives the company a valuation of approximately $5bn, TechCrunch estimates.