After acquiring HelloSign in 2019, Dropbox has now added DocSend to its arsenal of documentation apps in a $165 Million deal. DocSend already has over 17,000 customers and given the reputation of Dropbox, more are likely to be on their way.
Dropbox Adds DocSend to Its Ecosystem
With DocSend under its belt, Dropbox will have a complete ecosystem that can be used to share, receive, and sign documents efficiently and securely.
In a press release, Dropbox co-founder and Chief Executive Officer, Drew Houston, said:
Given the dramatic rise in remote work, there’s increased demand for digital tools that help people organize their content and seamlessly collaborate with each other. DocSend is a perfect complement to our product roadmap and we’re thrilled to welcome them to our team. By bringing Dropbox, HelloSign, and DocSend together, we’ll be able to offer a full suite of secure, self-serve products to help them manage critical document workflows from start to finish.
What Is DocSend?
Simply put, DocSend allows companies to securely share important documents. In addition to this, users can see important data such as the number of people who viewed the document and time spent on each page.
Safety features include password-protected documents, NDAs, and email verification. Users can also open Microsoft Word, Microsoft PowerPoint and Keynote files within the service itself.
How Will This Impact DocSend Users?
For the average user, there isn't going to be any change. For enterprise users, however, it's another story.
Given the meteoric rise in remote work due to the pandemic, this could prove to be a profitable move for Dropbox. DocSend provides users with a completely transparent way to access and read documents. With HelloSign and DocSend working in tandem, businesses can conduct all their documentation work inside the Dropbox ecosystem.
As Russ Heddleston, the founder and CEO of DocSend, explains:
Our roots are in helping startups navigate the fundraising process and empowering entrepreneurs to chase their dreams by giving them more visibility and control over the pitch process. As we’ve grown, we’ve realized that the ability to securely share content and engage with documents after they are sent offers powerful benefits to a variety of customer segments. By joining Dropbox, we’ll be able to rapidly scale, bringing our vision and capabilities to the hundreds of millions of people around the world who already trust Dropbox with their most important content.
Helping Dropbox Succeed Through 2021
Dropbox's acquisition of DocSend is expected to be completed by the end of Q1 2021, just in time for the company to reap the benefits through 2021 and beyond.