Dropbox today announced its largest acquisition to date. The cloud giant is down $230 million for HelloSign. This is a startup that offers document management to millions of users worldwide.
HelloSign was launched in the course of 2011. In the meantime, it raised $16 million from investors. This is a relatively small amount, given the value of the acquisition and the company’s total customer base. It has more than 80,000 paying customers, including large companies like Lyft, Intuit, Samsung and Twitter.
HelloSign and HelloWorks
The company is best known for the service it named itself after: HelloSign. This is an e-signature service and an alternative to more established and similar services from Adobe and DocuSign. HelloSign is available in both a free version with limited features and a paid subscription with various additional services. For example, it contains many security mechanisms that make it suitable for drawing sensitive documents.
Furthermore, since 2017 there is a lot of emphasis on the business market within HelloSign. To this end, it launched the HelloWorks service. This service automates manual work that normally involves processing forms. HelloWorks aims to deliver documents in a mobile-friendly format and contains a number of measures to prevent users from accidentally providing incorrect information.
Enlarge range
Our goal has always been to reach as many people as possible with our products, says CEO Joseph Walla in a blog post about the acquisition. Dropbox’s more than 500 million customers will help us increase our reach and make our impact even greater than we ever dreamed of.
Dropbox will be helped with this because it helps in the competition with rival Box. That has more and more services in its offer that make it an attractive alternative to Dropbox. Relay has this in its offer, with which it can automate repetitive activities. By the way, with HelloSign, Dropbox is also raising a lot of growth potential: HelloSign has attracted 30,000 paying customers in the past two years.
The acquisition is expected to be completed by the end of March. Within the takeover deal, HelloSign will remain an independent business within Dropbox and the board will simply remain in place.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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