Dropbox acquires Sold for USD1.2 million

By IVC Staff Reporter

Nov 04, 2013 11:29 PM EST

Seven months after its launch, Sold announced it had been bought by Dropbox. Service had been closed following the announcement.

Sold was launched early in 2013 which was helped to remove the stress from people purchasing and selling online. It had made its debut on the iPhone before making the big leap to the Android in the month of September.

Dropbox had acquired Sold thanks to USD1.2 million from investors namely Greylock Partners, Google Ventures, Boston Seed and Matrix Partners. According to TechCrunch, Sold had listed around 2,000 products and had experienced a growth of 50% each month.

The startup, Sold, in merely four months had projected USD1 million in annual revenue that continued to grow fast. However, Sold proved to carry more appeal when joined with Dropbox.

Sold's co-founder Tony DeVincenzi said the deal came in less than four weeks. By this time, nine full time employees from Sold will join a team under Dropbox for the development and design of a "new Dropbox product."

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