The Company has, to date, raised a total of more than $607 million in investor funding, including investments from Accel Partners, Goldman Sachs, Salesforce Ventures, and QueensBridge Venture Partners. The Company soon attracted formal investor funding, completing its Series A round in 2008, raising $6million. Houston and Ferdowsi began working on a public version of the Dropbox platform, using seed capital provided by Amidzad Partners, Sequoia Capital, and Signatures Capital, among others.
Houston soon realized, however, that this platform could benefit others with similar problems.
Houston found that other online solutions available at the time suffered from internet latency and bugs, or had inaccessible user interfaces, and so decided to develop his own for his personal use. The concept behind the Company was reportedly developed as a solution to Houston’s difficulty in remembering to bring his USB flash drive to classes. Historyĭropbox was founded in 2007 by former Massachusetts Institute of Technology students Drew Houston (“Houston”) and Arash Ferdowsi (“Ferdowsi”). Dropbox provides cloud storage and file-sharing solutions to individual and commercial customers, with a view to providing its customers with greater efficiency in group projects, and more ready access to key files.
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