Dropbox raises about $250 mln at $10 bln valuation «

    Dropbox raises about $250 mln at $10 bln valuation

    Dropbox Inc. has closed on about $250 million in a funding round that values the online-storage provider at close to $10 billion, according to two people familiar with the deal.

    A BlackRock Inc. /quotes/zigman/249424/delayed/quotes/nls/blk BLK -0.33% investment fund is leading the deal, which is set to include previous backers, said one of these people, who declined to provide more detail.

    A spokeswoman for Dropbox didn’t respond to requests for comment.

    Bloomberg News/Landov

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    Dropbox co-founder and CEO Drew Houston. At $10 billion, Dropbox is now one of the most highly valued companies backed by venture capitalists.

    The company’s valuation has more than doubled since late 2011, when investors valued the San Francisco-based company at $4 billion. The company also got a higher price than expected when it approached investors as recently as November.

    Dropbox raised $250 million in its 2011 financing from Goldman Sachs /quotes/zigman/188479/delayed/quotes/nls/gs GS +0.63% and venture-capital firms including Sequoia Capital, Index Ventures and Accel Partners.

    The funding will help accelerate Chief Executive Drew Houston’s push into business software.