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. Read more
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. Read more
Tech news from around the web:
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. Read more