Investments, Startups

Dropbox Acquires Israeli Mobile Productivity Startup CloudOn


Dropbox, the San Francisco based cloud storage company has acquired Israeli mobile productivity startup CloudOn for an undisclosed sum. CloudOn claims to have nine million registered users which allows users to create and edit Microsoft Office files online and on mobile devices.

The company said it will be shutting down the CloudOn service on March 15, 2015 and won’t be accepting any new users as of today. “We’re thrilled to continue building things that help people work better – and we’re proud and excited to join the Dropbox team to help people be more productive every day,” CloudOn wrote in its website.

Started in 2009, CloudOn enables users to create, review and share files from any device. Till date, the firm has raised USD 26.1 million in 4 rounds from 6 investors. And, now it’s 30-person team transitions to working for Dropbox.

Dropbox has over 300 million users and the company has taken this initiative to growing its team and expertise. Including CloudOn, it has acquired 19 companies till now and also raised a total capital of USD 500 million in 6 rounds from 22 investors.

Image Source: Forbes

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