Dropbox Lands A $250 Million Investment And Is Now Worth $10 Billion, Report Says

Looks like Dropbox obtained the massive round of funding it was seeking, $250 million, and a truly jaw-dropping valuation: $10 billion, Douglas MacMillan at the Wall Street Journal is reporting.

BlackRock is leading the deal with participation from others including its existing investors, sources told MacMillan.

Dropbox hasn't officially commented yet.

News circulated in November that Dropbox was hunting for investors and a valuation of at least $8 billion. This wasn't the first time Dropbox did so. In 2011, rumors swirled about a massive round Dropbox was raising. Back then it was rumored to be getting offers at an $8 billion valuation and then it was said to be at $5 billion. In the end, its valuation was $4 billion.

Dropbox had sales of more than $200 million in 2013, the WSJ reports.

The company has over 200 million users and 4 million businesses, it says, and has recently expanded its service to software developers, asking them to write more apps that use Dropbox.