Dropbox purchases workflow and eSignature startup ‘HelloSign’ for $250M

Dropbox has purchased HelloSign, a San Francisco based private company that provides lightweight document workflow and eSignature services. Dropbox has paid $230 million for this deal which is expected to close in Quarter 1.

Dropbox co-founder and CEO, Drew Houston, said in a statement “HelloSign has built a thriving business focused on eSignature and document workflow products that their users love. Together, we can deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve”.

Dropbox’ SVP of engineering, Quentin Clark told TechCrunch that, HelloSign’s workflow capabilities added in 2017 were key to the purchase. He calls their investment in APIs as ‘unique’ and that their workflow products are aligned with Dropbox’ long-term direction that Dropbox will pursue ‘a broader vision’. This could possibly mean extending Dropbox Storage capabilities in the long run. This deal comes as an extension to a partnership that Dropbox established with HelloSign last year, to use two of HelloSign technologies-  to offer eSignature and electronic fax solutions to Dropbox users.

HelloSign CEO, Joseph Walla says being part of Dropbox would give HelloSign the access to resources of a much larger public company, thereby allowing them to reach a broader market than it could on a standalone basis. He stated, “Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact.”

COO of HelloSign, Whitney Bouck, said that the company will remain an independent entity and will continue to operate with its current management structure as part of the Dropbox family. She also added that all of the HelloSign employees will be offered employment at Dropbox as part of the deal.

You can head over to TechCrunch to know more about this announcement.

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