DropBox Valued At $5 Billion

DropBoxEveryone’s favourite cloud storage provider DropBox is looking to raise about $300 million in another round of financing valueing the compay at around $5 Billion according to a report by TechCrunch.

This news comes after DropBox hit the 25 million user mark in August with the service “saving” 200 million files per day with people using the service for cloud back-ups, storage and syncing between devices – including a useful iOS app that lets you stores files on the iPhone for later usage like a file manager – something the iPhone has long lacked.

The service has also been in the press recently with a security breach that left a small minority of accounts accessible without the need for the correct password. Fewer than 100 accounts were exploited in this error last week with one person actively exploiting the security hole – but such issues are always a worry for people storing private information in the cloud.

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