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Dropbox has announced plans to acquire DocSend, a secure document sharing and tracking platform, in an all-cash deal worth $165 million.
Founded out of San Francisco in 2013, DocSend serves to bypass clunky attachments through a link-based document sharing approach that enables businesses to control file downloads and deactivate access any time, while also gleaning real-time insights on engagement. Moreover, it allows companies to ensure that the version of a file it has shared is always up-to-date given that users access it from a location in the cloud.
This represents Dropbox’s second acquisition in as many months, after it doled out $230 million for e-signature startup HelloSign in January. DocSend is fairly complementary to HelloSign in fact, as both platforms are ultimately concerned with the management and distribution of documents remotely — in fact, DocSend already offers built-in e-signature functionality.
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