Dropbox will set up shop in Israel after CloudOn acquisition
US cloud storage giant Dropbox will arrive in Israel after buying Herzliya based mobile productivity startup CloudOn which made a name for itself with app that enables users to create and edit documents on mobile devices.
CloudOn has a research and development team based in Herzliya as well as offices in Mountain View, California. The startup had raised 26 million dollars from various investors including The Social + Capital Partnership, Rembrandt Venture Partners, Foundation Capital and TransLink Capital.
“The CloudOn team that joins Dropbox will add unique expertise to further enhance experiences that help businesses become more productive and make Dropbox the best place to get work done. Dropbox will also continue to hire engineers in its new Herzliya office, and Meir Morgenstern, CloudOn co-founder and vice president of engineering, will become research and development center manager for the Dropbox office in Israel,” said a CloudOn statement regarding the accusation.
CloudOn’s founders Meir Morgenstern, Jay Zaveri and Milind Gadekar announced that the app will shut down its service on March 15th and will no longer be accepting new users.
The startup’s research and development center in Israel will join Dropbox’s R & D centers in Dublin, New York, San Francisco and Seattle.
“We’re proud and excited to join the Dropbox team to help people be more productive every day,” said Gadekar, cofounder and CEO of CloudOn. “Our companies share similar values, are committed to helping people work better, and together we can make even greater impact. We’re thrilled to continue building things that help people work better.”
“CloudOn's mission of making it easy to work on mobile aligns with our goal of giving people the freedom to work the way they want, wherever they want,” said Ilya Fushman, head of product for Dropbox and Dropbox for Business. “Their team is smart, thoughtful, and brings great experience in creating simple ways for people to create and collaborate on any device.”
Dropbox has 300 million users worldwide, 70% of which are located outside of the US. More than 100,000 companies use Dropbox for Business.
