Abstract
In this paper we will discuss about the recent business deal made by Drop.io, Inc. The company will receive a 2.7 million dollars investment from the two NeW York based venture capital funds DFJ Gotham and RRE Ventures. Drop.io, Inc. provides an online platform to the customers to share documents, videos, photos and other related stuffs. This business deal will allow the company to spend more on its marketing efforts.
Drop.io, Inc. disclosed its recent business deal in March 2008. The company will get 2.7 million dollars from DFJ Gotham and RRE Ventures.
Drop.io offers a platform to the customers for private exchange, that is, to share documents, videos, photos etc with others through Internet. It is a private company established in 2007. The company provides ample online spaces to the customer to exchange. In addition to that, it allows multiple sharing methods like, emailing; uploading in the web, voicing mail. The company covers a wide range of customers around the world.
RRE Ventures, established in 1994, is a venture capital fund. It mainly invests in the communications, IT and financial service sectors. It is based in New York and is currently one of the premier venture capital funds in America with an asset value of 850 million dollars. RRE offers unique management solutions with its own investment expertise, which help the early-stage companies to grow quickly. Till date, the company has completed 90 successful transactions.
DFJ Gotham Ventures, situated in New York City, is a developing venture capital company. It mainly invests in the software companies of Northeast America and Israel. It is a division of Draper Fisher Jurvetson Global Network, world's biggest venture capital network.
Objectives:
- Drop.io will use the money to finance its several upcoming projects.
- This deal will accelerate the company's marketing efforts. Therefore, the company will be able to expand its businesses rapidly.
- Drop.io infrastructure and engineering team will be able to work with RRE's highly qualified and experienced management professionals.