Dropbox, Square secure credit lines - report

News Broadband Global 7 APR 2014
Dropbox, Square secure credit lines - report
Dropbox has agreed up to USD 500 million in borrowing in a credit facility led by JPMorgan, the Financial Times reports. This follows USD 350 million in equity fundraising earlier this year and lifts the total amount Dropbox has raised to more than USD 1.1 billion. Square, which makes credit card readers that plug into iPhones, is also raising a new credit facility, which one person close to the process said will be USD 200 million, although details have not been finalised. Goldman Sachs led the Square deal, along with Morgan Stanley, JPMorgan Chase, Barclays and Silicon Valley Bank. Both Dropbox and Square are expected to use the credit to fund operations until they list on the stock market. 

Categories:

Internet,  Mobile

Companies:

Square,  Dropbox

Regions:

Global

Tags:

Storage, e-Payment, Financial funding

Related Articles

GLOBAL 21 JUL 2014

Dropbox to focus on business users, open overseas offices

US cloud storage company Dropbox is planning an international expansion and shift in focus to business customers, COO Dennis Woodside told the Financial Times. The company intends to open an office in the UK, followed by other major European countries, Japan and Australia. Around 70 percent of Dropbox's users are based outside the US. Offices in major markets will allow the company to sell to businesses directly and to shape the service for local needs. Dropbox hopes to stay ahead of imitators and to get em

GLOBAL 6 JUN 2014

Dropbox koopt start-up Droptalk

Dropbox heeft voor een onbekend bedrag de start-up Droptalk overgenomen. Droptalk is een messagingdienst die gebruikers in staat stelt om elkaar op een veilige manier berichten of bestanden te sturen. Ook is het mogelijk content in de cloud op te slaan. Droptalk richt zich hiermee vooral op zakelijke gebruikers. In april nam Dropbox al Loom en Hackpad over. Loom biedt foto- en videomanagementdiensten, Hackpad biedt mogelijkheden van het opslaan en delen van notities, foto's en video's.

GLOBAL 22 APR 2014

Dropbox acquires Loom and Hackpad

Dropbox has acquired both Loom and Hackpad. Existing Loom customers will be able to continue to use the service until 16 May. Users can export their data directly to Dropbox and will receive a follow-up email with additional details and instructions. 

GLOBAL 22 APR 2014

'Square zoekt naar overnamekandidaten'

Google heeft gesprekken gevoerd met de mobiele betaaldienst Square over een eventuele overname van laatstgenoemde. Volgens de Wall Street Journal (WSJ), dat zich baseert op bronnen die bekend zijn met de gesprekken, zouden de gesprekken begin dit jaar zijn begonnen nadat Google en Square al in 2012 met elkaar om tafel zaten om te praten over een mogelijke verkoop van de mobiele betaaldienst. Ook zou Square hebben gepraat met Apple en eBay-onderdeel PayPal, schrijft de WSJ. Square zou een overnamekanditaat z

GLOBAL 21 APR 2014

Google considered Square takeover - report

Mobile-payments start-up Square has discussed a possible sale to several rivals, people familiar with the matter told the Wall Street Journal. Google discussed a possible acquisition of Square earlier this year, according to three people familiar with the matter. Those talks followed a meeting in 2012 between top Google and Square executives to discuss a possible takeover, two people told the paper. It wasn't clear whether the talks are continuing. Square also had informal discussions about a deal with Appl

GLOBAL 10 APR 2014

Dropbox names Condoleezza Rice to board

Dropbox announced the promotion of Sujay Jaswa to CFO. He has created and led the business side of Dropbox since joining in 2010, managing fundraising, driving key partnerships, and scaling the business teams to several hundred people globally. The company also confirmed the appointment of Dennis Woodside as COO. He will lead global business operations including sales, marketing, partnerships, user operations, and people operations. Woodside joins from Google, where he served as President of the Americas an

GLOBAL 20 JAN 2014

Dropbox raises USD 250 mln - report

Dropbox has raised about USD 250 million in a funding round that values the online-storage provider at close to USD 10 billion, two people familiar with the deal told the Wall Street Journal. A BlackRock investment fund is leading the deal, which also includes previous investors. The company's valuation has more than doubled since late 2011, when investors valued the San Francisco-based company at USD 4 billion. The company also got a higher price than expected when it approached investors as recently as No

GLOBAL 19 NOV 2013

Dropbox seeks USD 8 billion valuation - report

Dropbox plans to raise USD 250 million in the next few weeks, two people with knowledge of the company's plans told Bloomberg BusinessWeek. The new round of financing would value the online storage company at over USD 8 billion, or more than double its last round, which closed in October 2011. Dropbox's past investors include Sequoia Capital, Accel Partners and Y Combinator, as well as U2's Bono and The Edge. Dropbox counts over 200 million users, including around 4 million businesses. It has been rolling o

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.