In an announcement today, Dropbox acquired yet another startup in its expansion of the cloud for an undisclosed amount of money. Loom offers users up to five gigabytes of storage space free of charge for the sharing and syncing of photos and videos for both mobile devices and desktops.
Dropbox continues to make news
Dropbox has been in the news quite a bit recently for its release of the new photo sharing and storage application Carousel, the unveiling of Dropbox for Business, and the highly criticized appointment of former National Security Advisor Condoleeza Rice.
For much of the past decade, Crispin Odey has been waiting for inflation to rear its ugly head. The fund manager has been positioned to take advantage of rising prices in his flagship hedge fund, the Odey European Fund, and has been trying to warn his investors about the risks of inflation through his annual Read More
As a result of today’s acquisition of Loom, the company will be folded into the Carousel team. For current users of Loom, Dropbox announced that the site will remain active until the 16th of May.
In a blog post today, Loom told the world why it decided to join forces with Dropbox:
After spending some serious time investigating if this was the right move for us, we realized that Dropbox has solved many problems around scaling infrastructure and at Dropbox the Loom team will be able to focus entirely on building great features with a fantastic user experience.
Loom will not be allowing new users any longer, but those that already used the (free) service will receive five gigs of storage “forever” when they switch over to Carousel. This is quite the deal given that Dropbox only provides for two gigabytes of free storage. Paying users of Loom will receive the same amount of space on Dropbox for one year’s time.
Dropbox has made a number of acquisitions of late as it looks to satisfy its customers with a suite of services in the cloud. Mailbox was acquired for email, Audiogalaxy for music, Sold for the selling of second-hand goods, Endorse for coupons and its acquisition of Snapjoy was responsigble for the building of Carousel.