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Did Apple try to buy Dropbox for $800 million?

Written by Andre Yoskowitz @ 09 Sep 2011 1:33

Did Apple try to buy Dropbox for $800 million? According to BI, Apple tried to acquire cloud storage company Dropbox earlier this year.
The company, which is set to go public eventually, first went through an elaborate M&A process, and had Apple and Citrix as potential bidders.

Sources hear that Apple offered up $800 million for the company, after seeing revenues would reach $100 million in 2011.

Dropbox passed on the offer and instead accepted a new round of private investments that valued the company at $4 billion.

The purchase would have been notable for Apple, who has infamously sat on their $70 billion cash with very little acquisitions in the past five years.

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