Dropbox snags $250M in funding at $10B valuation, says report

Investors have poured another $250 million in funding into cloud-storage company Dropbox, The Wall Street Journal reported Friday.

With this latest round, the 7-year-old company is valued at $10 billion. Investment firm BlackRock led the funding round, unnamed sources told the Journal. Also, two other investors are in discussions with the company, which could bring an additional $100 million to $150 million to Dropbox, according to a report from Recode.

We’ve contacted Dropbox for comment and we will update if we hear back.

This latest infusion of cash nearly doubles the amount Dropbox has raised from investors. The company had previously raised $257 million. Bloomberg reported in November that the company was seeking funding that would value the company at $8 billion.

More than 200 million people and 4 million businesses use the file-sharing service.

Update, 4:49 p.m. PT: Added information from a Recode report.