9/5/2023 0 Comments Sookasa acquired $ millions![]() The way they've defined their concepts seems hostile to the very things businesses need in a product.Įven being a company that spends 50k a year gets you next to nothing wrt feature requests or support outside of what would be given to a free user, aside from speed of reply. David Benoit contributed to this article.Īs a customer of Dropbox for Business, I can confidently say they have a long, difficult road ahead of them here. The year before, it nearly quadrupled sales from $12 million. The company made $116 million in sales in 2012, according to people familiar with the company's financials, more than doubling its $46 million in revenue in 2011. The Wall Street Journal previously reported that Dropbox had expected sales of more than $200 million in 2013. The company also got a higher price than expected when it approached investors as recently as November.ĭropbox raised $250 million in its 2011 financing from Goldman Sachs and venture-capital firms including Sequoia Capital, Index Ventures and Accel Partners. The company's valuation has more than doubled since late 2011, when investors valued the San Francisco-based company at $4 billion. BLK -0.33% investment fund is leading the deal, which also includes previous backers, said one of these people, who declined to provide more detail.ĭropbox wasn't immediately available to comment.Īt $10 billion, Dropbox is one of the most highly valued companies backed by venture capitalists. has closed on about $250 million in a funding round that values the online-storage provider at close to $10 billion, according to two people familiar with the deal.Ī BlackRock Inc. Ripple is "not in any hurry" to do an IPO, and has around $1 billion of cash on its balance sheet, Garlinghouse said.Dropbox Inc. Ripple has rejected the charges, saying the token is a currency and does not need to be registered as an investment contract. Securities and Exchange Commission (SEC), charged with conducting a $1.3 billion unregistered securities offering. In December 2020, Ripple was sued by the U.S. Privately-owned Ripple last year expressed interest in acquiring assets including from bankrupt lender Celsius. ![]() More than half of the $250 million acquisition was paid for in cash, and the rest in equity, Ripple said. Ripple is the world's sixth largest cryptocurrency, with around $23 billion of the coin in circulation, according to market tracker CoinGecko. "The rules of the road in other markets compared to the United States are clear and it's that clarity of rules that allows companies to invest," he said. ![]() employees, added to the appeal of the company. regulators step up enforcement actions against crypto firms, Garlinghouse said that Metaco being based in Switzerland, with non-U.S. "If ultimately you're solving a clear problem at scale for these customers, there's going to be demand there."Īs U.S. you're not really subject to the same gyrations of the crypto winters," he said. Ripple CEO Brad Garlinghouse said he expected increased demand from institutional investors for crypto custody services. Investors have become increasingly cautious about where and how crypto assets are stored, after crypto platforms freezing withdrawals left them facing large losses. Investor interest in crypto assets has cooled following a drop in cryptocurrency prices in 2022 and series of collapses at major crypto firms, including U.S. Its clients include Citi, BNP Paribas, and Societe Generale's digital asset arm. Metaco makes technology which allows financial institutions to store and manage digital assets. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday.
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