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Dropbox announced today the acquisition of HelloSign, a company providing streamlined document workflow and electronic signature services. The company paid $ 230 million for this privilege.
Dropbox Quentin Clark, vice president of engineering, believes this goes beyond simply integrating the electronic signature functionality with the Dropbox solution. For him, the workflow capabilities added by HelloSign in 2017 were really essential to the purchase.
"What is unique about HelloSign is that the investment they have made in API and workflow products is really so aligned with our long term direction, "Clark told TechCrunch. "It's not just one thing to do another activity with Dropbox, it's really going to help us continue that broader vision," he added. This vision involves extending the storage capacity that forms the heart of the Dropbox solution.
This was also seen in the context of the Dropbox added functionality last year. HelloSign was actually one of the companies involved during the launch. While Clark believes the company will continue to encourage companies to expand the Dropbox solution, today's acquisition gives it a capacity that does not require a partnership.
Hello President and CEO Joseph Walla declares that being part of Dropbox gives HelloSign access to the resources of a much larger public company, which should allow it to reach a larger market than the one she could have had on her own. "We share a design philosophy based on creating the best end-user experience, fueling our business models and effective sales strategies. Together with Dropbox, we can offer more transparent document workflow to even more customers and dramatically accelerate our impact, "Walla said in a blog post announcing the deal.
Whitney Bouck, COO of HelloSign, previously at Box and EMC Documentum, said the company would remain an independent entity. This means that the company will continue to operate with its current management structure and Clark has indicated that all employees would be offered a job at Dropbox as part of the transaction.
"We will effectively remain an independent company within the Dropbox family, so we can continue to focus on developing the superior products we offer. The good news is that our customers have not really experienced this radical change. They just have more opportunities, "said Bouck.
If you consider that HelloSign, a Bay Area startup that started in 2011, has generated only $ 16 million, this seems like an impressive comeback for investors and a solid exit for investors. business.
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