File-Sharing Start-Ups and Their IPO, Buyout Plans
Originally a way for friends to share music and movies, online file sharing is now in high demand from big businesses seeking to swap costly data centers for secure storage in the cloud.
Washington-based market research company Osterman Research expects the global file synchronisation and sharing market to double to about $80 billion by 2017. 80-90 per cent of this revenue will come from business.
To tap this demand, several file-sharing startups are considering initial public offerings (IPOs) or seeking buyers.
Following are details about some file-sharing start-ups.
Dropbox
Founded in 2007 by Drew Houston and Arash Ferdowsi, two Massachusetts Institute of Technology students tired of emailing files to themselves to work from more than one computer.
It has more than 275 million users.
Investors include Sequoia, Greylock, Index, Y Combinator and others.
Houston said in September the company would go public "at some point" but that there was no immediate need for an IPO.
Box
Founded in 2005 by Aaron Levie and Dylan Smith, More than 25 million people and 225,000 companies use its services.
Investors include Andreessen Horowitz, Bessemer Venture Partners, Draper Fisher Jurvetson, General Atlantic, Intel Capital, NEA, SAP Ventures, Scale Venture Partners and US Venture Partners.
The company filed for an IPO on March 24.
Egnyte
Founded in 2007 by Vineet Jain, Rajesh Ram and Kris Lahiri, it has more than 30,000 users, including Swedish furniture retailer IKEA.
Investors include Google Ventures, Kleiner Perkins Caufield & Byers, Polaris Partners, Floodgate Fund, Northgate, CenturyLink and Seagate.
The company is considering an IPO in 2015.
Accellion Inc
Founded in 1999, it has more than 12 million users. Household products maker Procter & Gamble and advertising company Ogilvy & Mather are among its 2,000 corporate clients.
Investors include Baring Private Equity Partners Asia and Riverwood Capital.
The company is considering an IPO in 2015.
Onehub
Founded in 2007 by Charles Mount and Brian Moran, it has more than 300,000 users.
Investors include Ignition Partners and angel investors.
Mount has said the company is open to being acquired.
Hightail
Founded in 2004 by Ranjith Kumaran, it has more than 45 million registered users.
Investors include Alloy Ventures, Sevin Rosen Funds, Sigma Partners and Emergence Capital Partners.
The company has not made any public statement about its future plans.
Sugarsync
Founded in 2008 by Ben Strong and Gibu Thomas, its investors include Draper Fisher Jurvetson, Sigma Partners and Coral Group.
Chief executive Mike Grossman said there is more chance that the company will be acquired than pursue an IPO.
Soonr
Founded in 2005 by Martin Frid-Nielsen and Steven Boye, it has more than 175,000 businesses use its services.
Investors include HighBAR Partners, Clearstone Venture Partners, Intel Capital, Cisco and Presidio Ventures.
The company has not made any public statement about its future plans.
Copyright @ Thomson Reuters 2014
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