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Cloud storage firm Dropbox promotes Sujay Jaswa as CFO

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California-headquartered cloud storage company Dropbox Inc. has promoted its vice president Sujay Jaswa as its first chief financial officer (CFO), according to a blog post by The Wall Street Journal.

The appointment comes ahead of Dropbox's IPO plans in 2014, and little over a month after the company raised $350 million from investors including BlackRock, T. Rowe Price and Morgan Stanley. The company also recently roped in Motorola Mobility's Dennis Woodside as its first chief operating officer (COO).

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Jaswa, who joined Dropbox in December 2010, was most recently its head of partnerships. A Harvard Business School alumnus, he was earlier principal at New Enterprise Associates (NEA). Prior to that, he was director- business development at CinemaNow (now BestBuy). He had also earlier worked at companies like Cisco Systems and McKinsey & Co.

Dropbox was founded in 2007 by Massachusetts Institute of Technology (MIT) graduates Drew Houston and Arash Ferdowsi. It has since scaled up by adding users by touting its ease-of-use interface that syncs files across multiple devices and operating systems. It last claimed 200 million users.

In February this year, Dropbox raised $350 million at a $10 billion valuation with room to go to a higher total of around $450 million, with as many as 72 investors participating in the round. Dropbox had previously raised a little more than $250 million.

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(Edited by Joby Puthuparampil Johnson)


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