Proof that having your head in the clouds works!

Dropbox, the San Francisco-based digital file sharing service, has announced that it has raised $250m in additional new funding.

Those of you like me (surely there must be more like me?), who have multiple “media enabling” devices ranging from a laptop, to a blackberry, a tablet and an iPod, will know the concept of being able to store and access all my documents, music, and photos in one place in "cyber space" is very appealing.

Conceptually such a service is fantastic, and since they were established in 2007 Dropbox now have over 45m users, which according to its founders is triple the number of users the company had a year ago.

This isn't the first round of funding the company has gone through, having raised $1.2m in seed funding and then a first round funding effort that raised $6m.

The current investment values the company at $4bn, and the fact that Apple have launched their own cloud service in competition suggests that this is one concept where having your head in the clouds made sense!
 

Filed under: Investors, PE, technology, US, funding