Dropbox has announced that it intends to purchase HelloSign, a company that provides lightweight document workflow and e-signature services for a hefty $230 million. HelloSign, a Bay Area startup that launched in 2011 and raised $16 million, so this deal seems like a huge win for investors and a great exit for the company. The key to this deal will be the workflow capabilities that HelloSign added in 2017, that will be adding more value to dropbox than simply adding on electronic signature functionality to the Dropbox solution. The deal is expected to close in Q1 depending on regulatory approval.
This deal may also be an extension to added capabilities that Dropbox added last year.
HelloSign CEO Joseph Walla says being part of Dropbox gives HelloSign access to resources of a much larger public company, which should allow it to reach a broader market than it could on its own. “Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact,” Walla said in a blog post announcing the deal.
Whitney Bouck, COO at HelloSign, who previously held stints at Box and EMC Documentum, said the company will remain an independent entity. That means it will continue to operate with its current management structure as part of the Dropbox family, while all of the HelloSign employees will be offered employment at Dropbox as part of the deal.