In September, it joined a $25 million round, led by Sequoia Capital, in another San Francisco online peer-to-peer lender, Prosper Marketplace.Īgenda item: BlackRock CEO Larry Fink, once touted to succeed Timothy Geithneras Treasury secretary, is in Davos, Switzerland, at the World Economic Forum, on a panel with central bank heads from Europe and Japan and the International Monetary Fund. In addition to large stakes in companies such as Apple, Google, Amazon, Intuit and Qualcomm, it led an $80 million round of investment this month in Turn, a 9-year-old Redwood City advertising software firm. An earlier $250 million round, from Silicon Valley's Sequoia Capital, Index Ventures and Accel Partners, and, from Wall Street, Goldman Sachs, valued the company at a mere $4 billion.īlackRock, with a major outpost on San Francisco's SoMa district, a few blocks north of Dropbox, is no stranger to tech. But they are most likely growing with the ramping up of its corporate services. Local competitors include Box and Evernote, both valued in the billion-dollar bracket.Įstimates of Dropbox's revenue have varied, some as high as $250 million. A free service with premium add-ons, Dropbox says it has 200 million users - including 4 million businesses - who store files, photos and data, share it with others, and sync it across platforms. But investors seem to be on to a good thing. It also marks the latest advance of traditional East Coast investors into an area more equated with venture capital and Sand Hill Road. That would be BlackRock, the world's largest money manager, with $4.3 trillion under management - more than the gross domestic product of Germany. The round's leading investor might have had something to do with it.
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