Dropbox Acquires DocSend

Dropbox, one of the world’s best-known solutions for file storage and sharing in the cloud environment, recently announced its decision to enter into a definitive agreement to purchase DocSend, a secure solution for document analytics and sharing. Dropbox has more than 700 million registered users today in over 180 countries, and DocSend supports over 17,000 customers of all sizes around the globe.

According to DocSend, joining Dropbox will allow the company to scale rapidly, bringing capabilities to hundreds of millions of people worldwide who need to share and manage crucial content.

Thanks to the rapid rise in remote work demand, there’s an increasing need for digital tools that can support people in organising content seamlessly and efficiently. According to the Co-Founder and CEO of Dropbox, Drew Houston, the DocSend solution represents a perfect complement to the Dropbox roadmap. Dropbox is excited to welcome the DocSend community to the team, which also includes HelloSign for document signing online.

Managing Files in the New Cloud World

According to Houston, bringing HelloSign, Dropbox, and DocSend together will offer customers a full suite of the secure, easy-to-use products they need to manage crucial document workflows in the age of cloud collaboration and work.

As the workplace grows more distributed, effective communication and collaboration with external parties can be more of a challenge. DocSend provides clients with an insight into what happens to their documents after they’re sent to contacts. An extra layer of intelligence will enhance the scale of the functionality of the Dropbox platform.

Client service teams and professionals relying on Dropbox to work on projects collaboratively with teams can use the DocSend solution to deliver their proposals and get an insight into engagement levels. Afterwards, HelloSign can be a tool that manages invoices and contracts. The combination of the three tools will give customers in various industries more control over end-to-end workflows, from onboarding teams to closing deals, allowing more control over business results.

Enhancing File Workflows

According to the Co-Founder and CEO of DocSend, Russ Heddleston, the roots of the company sit in a commitment to helping start-ups handle complex fundraising processes and assisting entrepreneurs in chasing opportunities with more visibility and control. As the company has grown, DocSend has realized that the ability to share content securely and examine engagement with documents after they’re sent offers powerful advantages to all kinds of customers.

Joining forces with Dropbox means that DocSend can rapidly scale and support more customers than ever before. The terms of the agreement allow Dropbox to purchase DocSend for a total of $165m in cash, subject to closing conditions and purchase price changes. The acquisition should close in the first quarter of 2021.

 

 



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