Dropbox bets $350 million on Tigris Data to build AI storage
Photo: Crypto Briefing
The deal, which appears to be the largest in Dropbox history, will help launch a new storage platform called DBX Agent Cloud Dropbox is spending approximately $350 million in cash to buy Tigris Data, a young cloud storage startup built for AI workloads. According to TechCrunch, the deal appears to be the largest acquisition Dropbox has ever made. Research on the transaction describes it as the company’s most significant purchase since its founding in 2007. Tigris Data is based in Sunnyvale, California. Former Uber engineers founded it in November 2021.
Source: Crypto Briefing
