Right after Apple bought local a navigational firm to improve its maps, we got another purchase this time coming from Dropbox’s address. It seems that with this purchase, Dropbox wants to improve its mobile app because the acquired company Endorse specializes in making mobile apps. It’s not clear whether Dropbox acquired this company for its talent or for its special service. We are about to see what will happen in future and what difference Endorse would make into Dropbox’s work.
Endorse offers cash back deals to all users who have bought products from specified brands. There weren’t any details what was the price of this buyout. We saw Endorse informing its users to redeem their balances and transfer their cash into their bank accounts a month ago. After this, Endorse announced that it’s shutting down the service. It was founded in 2012 and raised approximately $4.25 million from Accel Partners and SV Angel that were its partners and from several brands like Pepsico, General Mills, and Proctor & Gamble. These companies weren’t interested only in selling their products to potential customers but also in gathering information on the different shopping habits of the customers. It was said that the shopping process was simple enough for both sides. Customers who have bought a product needed to send photos of their product receipts to Endorse in order to collect their cash.
Like we said earlier, Dropbox didn’t give details whether this buyout was for the product or for the people that built this cash-back system app. The only comment that we could get for this acquisition was from a Dropbox representative who said that Endorse is now purchased, they are really excited about that and they are looking forward having its full potential talent join the Dropbox company.
Endorse did its part into reporting the purchase via blog post. They informed that the Dropbox team was long-admired for year and shared several praises for this company. The blog post added that Endorse is joining forces with this team and they are looking forward accomplishing ambitious goals and lots of challenges.
The Endorse team includes CEO Steven Carpenter, CTO Eric Klein and its lead engineer Franck Chastagnol. Steve has sold a financial service focused on consumers to E*Trade, Eric has been former CTO of YouTube and PayPal and Franck had worked with Google, YouTube, PayPal and Inktomi.
Few months ago, Dropbox bought e-mail app Mailbox and last year it acquired Audiogalaxy which specializes in streaming-music. We haven’t seen anything from these purchases so far and maybe Dropbox has a plan to acquire few other companies to complete their mission. We can expect new feature coming in some future update or maybe brand new service brand which will bring Dropbox into new market.
Feel free to share with us your thoughts and expectations of this acquisition in comments section below.