Dropbox snaps up DocSend for $165 million
Dropbox has announced it is acquiring DocSend, provider of secure document sharing and analytics used by more than 17,000 companies around the world. According to Dropbox, the acquisition will bring customers an end-to-end suite of secure, self-serve products for content collaboration, sharing, and e-signature.
The purchase price is $165 million and the deal is expected to close in Q1 2021.
“Given the dramatic rise in remote work, there’s increased demand for digital tools that help people organize their content and seamlessly collaborate with each other,” said Dropbox co-founder and CEO Drew Houston. “DocSend is a perfect complement to our product roadmap and we’re thrilled to welcome them to our team. By bringing Dropbox, HelloSign, and DocSend together, we’ll be able to offer a full suite of secure, self-serve products to help them manage critical document workflows from start to finish.”
As work becomes more distributed, collaboration with external parties can become more siloed and results can be difficult to measure. According to Dropbox, DocSend gives customers visibility into what happens to their documents after they send them, adding a layer of intelligence on top of the scale and distribution of the Dropbox content platform.
“Our roots are in helping startups navigate the fundraising process and empowering entrepreneurs to chase their dreams by giving them more visibility and control over the pitch process. As we’ve grown, we’ve realized that the ability to securely share content and engage with documents after they are sent offers powerful benefits to a variety of customer segments,” said Russ Heddleston, DocSend co-founder and CEO. “By joining Dropbox, we’ll be able to rapidly scale, bringing our vision and capabilities to the hundreds of millions of people around the world who already trust Dropbox with their most important content.”
For more information, go to https://blog.dropbox.com.