Dropbox to Acquire its Partner ‘DocSend’ for $165 Million
Transform the Way Enterprises Share and Store Content for Remote Teams
Leading cloud storage solutions platform Dropbox has announced it is acquiring partner DocSend for $165 million. Both companies have entered into a definitive agreement to jointly build a superior document sharing and document analytics platform for customers from a diverse range of industries. Together, Dropbox and DocSend would exemplify DocSend’s capabilities and bring its benefits to even more people and industries.
Currently, DocSend enables companies to share business-critical documents with ease and get real-time actionable feedback. With DocSend’s security and control, startup founders, investors, executives, and business development professionals can build business partnerships that have a lasting impact.
“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 Chief Executive Officer, Drew Houston.
Drew added, “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.”
This is the second major acquisition by Dropbox in as many years. It had acquired HelloSign in 2019 for $230 Million. Now, in 2021, it all makes sense to have Dropbox, HelloSign and DocSend in the same stable — together, they would offer a wide range of self-serve document sharing and analytics management platform with security infrastructured layered to manage end-to-end critical document workflows and drive meaningful business results.
How DocSend Expands Dropbox’s Product Offerings
Currently, Dropbox users leverage the platform to organize, share and collaborate in online and offline modes. It allows users to store and share messaging docs, projects and presentations. Using HelloSign, you can share legally-binding documents with e-signatures. DocSend’s entry is critical as users can now track and analyze how their shared documents drive engagement.
So, in short, Dropbox, DocSend, and HelloSign will help streamline workflows for sales, finance, client service, and executive teams across all industries.
At the time of this announcement, Russ Heddleston, DocSend Co-Founder and Chief Executive Officer said –
“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. 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.”
Top DocSend competitors include:
- Conga Document Generation
- Showpad Content
- Citrix ShareFile
- Adobe Sign
Top Dropbox competitors include:
- Google Drive
- Microsoft OneDrive for Business
- Citrix ShareFile
- Apple iCloud
- Zoho Docs