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DropBox to Acquire Start Up Firm

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March 18
9:19 AM 2013

Leading online file storage technology firm Dropbox Inc announced that it would purchase the start up firm behind Mailbox, the hottest email management application in the market today. This is the sign that the firm is aggressively expanding other features aside from file and data storage. The terms of the purchase were not disclosed.

Mailbox is the brainchild of Scott Cannon and Gentry Underwood, who were able to create the application through funding in the amount of US$5.5 million from angel investor Charles River Ventures and some other venture capitalists.

According to Dropbox co-founders Drew Houston and Arash Ferdowsi in a blog post, "After spending time with Gentry, Scott and the team, it became clear that their calling was the same as ours at Dropbox - to solve life's hidden problems and reimagine the things we do every day. We all quickly realized that together we could save millions of people a lot of pain."

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