Business, Ecommerce

Dropbox Acquires Parastructure, to launch Mobile-first, Cloud-first Platform

In order to launch a mobile-first, cloud-first platform, Dropbox has acquired data-analysis software start-up, Parastructure at an amount between USD 10 million up to USD 50 million.

Earlier, it had acquired Mobile Span and Droptalk in this month for an undisclosed amount. Till date, including Parastructure, the company has made total 16 acquisitions such as Bubbli, Hackpad, Loom, Readmill, Zulip, Sold, Foundry Hiring, Endrose, Tapengage, Mailbox, Snapjoy, Audiogalaxy and Cove.

Dublin-based Dropbox was launched in 2007 by Founder & CTO Arash Ferdowsi and CEO Drew Houston. It operates a free file hosting service that allows users to share and access photos, documents and videos anywhere.

This year, the firm had secured USD 350 million in Series C round and USD 500 million in Debt Financing. At present, the company has raised total capital of USD 1.1 billion. It is backed by 18 investors including Black Rock, Accel Partners, Sequoia Capital, RIT Capital Partners and others. 

In July 2013, the company had opened Dropbox platform to help build apps across devices and platforms.

Also Read: China gives a green signal to Dropbox

Tech First post says: One would expect the likes of Facebook, Google, Apple and Yahoo to be the real movers and shakers when it comes to acquisitions in the tech industry. But in this mobile-first world, big name apps have become as much of a force to reckon with.

The likes of Dropbox are now serious contenders for picking up new tech or startups. Dropbox has, in fact, been on something of an acquisition spree that could galvanise its efforts to become a complete platform rather than a singular cloud storage app or service.

Veooz says: When two closely competing companies make purchases on the same day, it’s probably fair to say that it’s not a coincidence. Two purchases hours apart on the same day by two companies in the same space might not be anything at all, but given the history of these two companies it’s hard to write off as mere coincidence and would appear to be indicative of a deeper developing competition.

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