The rumors are true! Dropbox has acquired stealth collaboration startup Cove for its talent, namely the brilliant engineering duo and coupleAditya Agarwal and Ruchi Sanghvi.
Agarwal and Sanghvi were both well-respected at Facebook, where they lead product efforts from 2005 to 2010. Sanghvi, who oversaw the Facebook Platform and News Feed and was the first female engineer at Facebook, recently received a TechFellow award for her contribution. I got to interview her briefly after the awards ceremony.
In a press release, Dropbox co-founder and CEO Drew Houston said: “Building a world-class engineering organization is a top priority for us…The team at Cove represents some of the best talent in the Valley and we look forward to the technology, skills and perspective they will bring to Dropbox.”
Dropbox didn’t give too many details on what the Cove team would be working on but Aditya said that the “product vision for Cove and Dropbox is very much aligned and the infrastructure we’ve built at Cove can be utilized at Dropbox.”
This is Dropbox’s first acquisition and from what I heard before the press release went out, the buy was purely for talent — Aditya Agarwal will become Dropbox VP of Engineering according to one source.
It will be interesting to see if Dropbox uses some of the $250 million in cash from its latest funding round for more acquisitions in 2012. On the product side, the startup just launched a new version of its Desktop and Android clients that automatically uploads your photos to your Dropbox account.
Source:http://techcrunch.com/2012/02/27/dropbox-buys-cove-to-bring-former-facebookers-ruchi-sanghvi-and-aditya-agarwal-to-the-team/
Source:http://techcrunch.com/2012/02/27/dropbox-buys-cove-to-bring-former-facebookers-ruchi-sanghvi-and-aditya-agarwal-to-the-team/
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