Dropbox Reportedly Secures $500M+ In Debt Financing

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Online storage company Dropbox has obtained a credit facility of more than $500 million, according to a report in Recode.

I’ve emailed Dropbox for confirmation and will update if I hear back. Apparently the Financial Times first broke the news in this (paywalled) story, but Recode says it has confirmed the financing with “sources close to the situation.”

Earlier this year, Dropbox raised $350 million in equity funding at a $10 billion valuation. (The company never officially announced the round, but earlier reports were confirmed by a regulatory filing.) So it seems this will be a period of aggressive growth for the company. We may get a better sense of its plans at a press event scheduled for April 9.

Dropbox isn’t the only young-ish tech company looking to raise more money through credit and debt — Square just secured a credit facility in the “low hundreds of millions,” according to CNBC.

Update: It looks the news of the Dropbox credit line first broke a week ago, also on CNBC.