Dropbox Acquires DocSend to Enhance Collaboration Tools

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Dropbox has made a significant move to boost its collaboration tools by acquiring DocSend. This acquisition is expected to bring a new level of efficiency to users who need to share and track sensitive documents.

DocSend's advanced security features will be integrated into Dropbox, allowing users to share confidential files with ease. This integration will provide an added layer of protection for sensitive information.

The acquisition is a strategic move by Dropbox to expand its offerings and stay competitive in the market. By incorporating DocSend's features, Dropbox aims to become the go-to platform for businesses that require secure and seamless collaboration.

Dropbox Acquisition Details

Dropbox acquired DocSend, a secure document sharing and analytics company, for $165 million.

This acquisition will enable Dropbox to offer an "end-to-end suite" of products spanning collaboration, sharing, and e-signatures.

DocSend has over 17,000 customers and will allow organisations to use Dropbox to deliver proposals and track engagement.

Credit: youtube.com, DropBox CEO on DocSend acquisition and future of cloud storage

Users can share documents easily and securely, and customise who has access to them.

The acquisition is a perfect complement to Dropbox's product roadmap, according to Drew Houston, Dropbox's CEO.

Russ Heddleston, DocSend's co-founder and CEO, had previously interned at Dropbox over a decade ago before the two companies became extension partners in 2019.

The acquisition is the first one announced by Dropbox since the company shifted to a remote working strategy.

Dropbox reported a "one-off" loss of $398.2 million in its fourth-quarter report last year due to this decision.

The company has also announced that it will sell its San Francisco headquarters building for $1.08 billion, a new high in the San Francisco commercial real estate market.

Curious to learn more? Check out: Dropbox One

Benefits and Features

Dropbox's acquisition of DocSend brings a new layer of intelligence to its platform, giving users visibility into what happens to their documents after they've been sent.

With DocSend, users can now track engagement and deliver proposals, making it easier to manage end-to-end document workflows.

Credit: youtube.com, Discover DocSend's Advanced Security Features for document sharing

Client services teams and creative professionals can use DocSend to deliver proposals and track engagement, while also using HelloSign to manage contracts and invoices.

DocSend's ability to securely send and track engagement for documents replaces some real-life interactions, especially in a world of remote work.

The acquisition of DocSend gives Dropbox another puzzle piece towards its goal of end-to-end document workflows, similar to its 2019 HelloSign acquisition.

DocSend's capabilities will unlock broader appeal, boosting Dropbox's total addressable market (TAM) and targeting verticals like creative production, sales, and client services.

The deal will bring DocSend's ~50 employees on board, and the acquisition will help Dropbox deliver an even broader set of tools for remote work.

Dropbox Completes Acquisition

Dropbox has completed the acquisition of DocSend, a secure document sharing and analytics company with over 17,000 customers.

The acquisition was announced on March 22, 2021, and marks a significant move for Dropbox to offer an end-to-end suite of products spanning collaboration, sharing, and e-signatures.

Credit: youtube.com, DocSend's Roadmap: From VC Funding to Dropbox Acquisition with Russ Heddleston

DocSend enables companies to share business-critical documents with ease and get real-time actionable feedback, making it a perfect complement to Dropbox's product roadmap.

The acquisition is valued at $165 million, with DocSend joining Dropbox's team to rapidly scale its vision and capabilities to the hundreds of millions of people around the world who already trust Dropbox with their most important content.

By combining Dropbox, HelloSign, and DocSend, customers across industries will be able to manage end-to-end document workflows, giving them more control over their business results.

Russ Heddleston, DocSend co-founder and CEO, had interned at Dropbox over a decade ago before their paths crossed again in 2019 when the two companies became extension partners.

This acquisition is the first for Dropbox since declaring its shift to a remote working strategy, and it's a significant step forward for the company's future growth and development.

Frequently Asked Questions

Is DocSend free for Dropbox users?

Yes, DocSend's integration with Dropbox is free to use, available on all plans. This seamless integration offers Dropbox users enhanced control and visibility into document engagement.

What is the revenue of DocSend?

DocSend reached $9.2M in revenue in 2021, a significant milestone for the company. Learn more about DocSend's growth and success.

Calvin Connelly

Senior Writer

Calvin Connelly is a seasoned writer with a passion for crafting engaging content on a wide range of topics. With a keen eye for detail and a knack for storytelling, Calvin has established himself as a versatile and reliable voice in the world of writing. In addition to his general writing expertise, Calvin has developed a particular interest in covering important and timely subjects that impact society.

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