Dropbox inches closer to IPO with estimated $10B valuation

Written by Rachel King, Staff Writer

Rachel King Staff Writer

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.

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Posted in Between the Lines on January 17, 2014 | Topic: Cloud

Here's your latest dose of billion-dollar valuations in the tech world. Earlier this week, Google picked up smart thermostat maker Nest for a cool $3.2 billion .

Now that seems like almost nothing (well, relatively speaking) compared to Dropbox, which is now said to be worth close to $10 billion, based on a new report from The Wall Street Journal.

Based on unnamed sources, the San Francisco-based company is said to have raked in $250 million following another round of venture capital fundraising.

Dropbox raised approximately the same amount during a Series B round back in 2011.

This report coupled with several analyst forecasts fuel the thought that the tech market will be coming on strong in 2014 , especially in regards to IPOs and M&A activity.

Dropbox itself might not be announcing an IPO just yet. Rumors have been swirling for awhile now , but nothing concrete has emerged.

Nevertheless, CEO Drew Houston has affirmed as recently as November that such a plan is in the cards -- eventually.

The cloud storage company is certainly aligning itself in that direction with new capital as well as a stronger business strategy fleshed out over the last year geared toward corporate customers .