Days after revealing its first photo sharing app Carousel, Dropbox has announced the acquisition of Loom, a cloud photo-sharing service, popular among the iOS users.
Also joining Dropbox is the Hackpad, a collaborative documents startup that is expected to boost Dropbox’s recently rolled out internal collaboration tools.
Dropbox has long been making small acquisitions. This year the company had already taken over four so start ups – Zulip, a corporate chat startup and Readmill, a social reading platform, followed by Loom and Hackpad. Dropbox is yet to disclose the financial terms of the Loom and Hackpad acquisitions.
Loom was co-founded as Popset by Philipp Wein, Daniel Wagner and Jan Senderek at Y Combinator in 2012.
The company launched the paid photo service in October last year, with over $1.3 million in seed funding from investors including Google Ventures, Chinese Internet company Tencent Holdings Ltd., Great Oaks Venture Capital, Overbrook Entertainment and individuals.
“It’s been a long road and we feel that we have come a long way in solving this problem. We are elated to announce the next step in this journey: Loom is becoming a part of the Dropbox family,” wrote Loom in a blog post.
Following the acquisition, Loom announced that it will shut down its service on May 16 and help existing users in a smooth transition. Effective immediately, the service will stop enrolling new users.
Hackpad, cofounded by Alex Graveley and Igor Kofman, announced that it will continue to serve existing as well as new customers and “bring new offerings to the market.”
“Today, we are proud to announce that Hackpad has been acquired by Dropbox!” wrote Hackpad in a blog post. “Hackpad will continue to be supported for both existing and new customers, and we’ll continue to work closely with the innovative teams that choose to make Hackpad their home. We hope that you will continue to use Hackpad and reach out to us with your feedback and suggestions.”
