Dropbox snares HelloSign for $230M, gets workflow and eSignature

Enterprise

Dropbox announced today that it has purchased HelloSign, a company that provides lightweight document workflow and eSignature services. The company paid a hefty $230 million for the privilege.

Dropbox’s SVP of engineering, Quentin Clark, sees this as more than simply bolting on electronic signature functionality to the Dropbox solution. For him, the workflow capabilities that HelloSign added in 2017 were really key to the purchase.

“What is unique about HelloSign is that the investment they’ve made in APIs and the workflow products is really so aligned with our long term direction,” Clark told TechCrunch. “It’s not just a thing to do one more activity with Dropbox, it’s really going to help us pursue that broader vision,” he added. That vision involves extending the storage capabilities that is as the core of the Dropbox solution

This can also been seen in the context of the Extension capability that Dropbox added last year. HelloSign was actually one of the companies involved at launch. While Clark say the company will continue to encourage companies to extend the Dropbox solution, today’s acquisition gives it a capability of its own that doesn’t require a partnership.

HelloSign CEO Joseph Walla says being part of Dropbox gives HelloSign access to resources of a much larger public company, which should allow it to reach a broader market than it could on its own. “We share a design philosophy based on building the best experience for end-users, fueling our efficient business models and sales strategies. Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact,”  Walla said in a blog post announcing the deal.

Whitney Bouck, COO at HelloSign, who previous held stints at Box and EMC Documentum, said the company will remain an independent entity. That means it will continue to operate with its current management structure and Clark indicated that all of the employees will be offered employment at Dropbox as part of the deal.

When you consider that HelloSign, a Bay area startup that launched in 2011, raised just $16 million, it appears to be a impressive return for investors.

This is a developing story. More to come.

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