Dropbox recently acquired the mobile cash back deal provider Endorse as a part of company expansion policy. The terms and details have not been made public yet.
Endorse is a mobile app maker that provides cash back deals to it’s users. Founded in 2010 the company got $4.25 million form SV Angel and Accel Partners and operating partners included P & G, General Mills and Pepsico. Endorse had shut down their operations recently on 19th June requesting users to redeem their balance.
The motive behind this acquisition of dropbox is still not clear, whether it’s the expansion of the portfolio or just to increase the talented workforce from Endorse.
The team that will be joining Dropbox includes Endorse CEO Steven Carpenter, who had earlier sold financial-services site to E Trade and CTO Erik Klein and Lead Engineer Franck Chastagnol.