Dropbox to acquire DocSend for $165 million, in an all-cash deal worth

Companies big and small do their best work using Dropbox . The company says more than 500,000 teams use Dropbox Business. Dropbox has announced its plans to acquire DocSend, a secure document sharing and tracking platform by sending a secure link for $165 million. DocSend's approximately 50 employees will be joining Dropbox when the deal closes, which is subject to standard regulatory oversight. DocSend has raised $15.3 million to date, according to Crunchbase, and has over 17,000 customers.

Founded out of San Francisco in 2013, DocSend helps businesses bypass cumbersome email attachments through a link-based document sharing approach. This enables companies to control file downloads and deactivate access at any time while also gleaning real-time engagement insights. Moreover, the DocSend platform allows companies to ensure that the version of a file they have shared remains up to date.

DocSend already claims some 17,000 customers, including a number of notable enterprise clients, such as Airtable and Gartner, which could give Dropbox an easier inroad as it looks to cross-sell and upsell its suite of products.

Nothing much will change for DocSend until the acquisition closes later this month, and Dropbox hasn’t confirmed what will happen to DocSend as a standalone product post-acquisition.

When combined with the electronic signature capability of HelloSign, which Dropbox acquired in 2019, the acquisition gives the company an end-to-end document sharing workflow it had been missing. "Dropbox, DocSend and HelloSign will be able to offer a full suite of self-serve products to help our millions of customers manage the entire critical document workflows and give more control over all aspects of that.