Cloud storage giant Dropbox has announced the acquisition of two startups – photo management app Loom, and collaboration service Hackpad. The financial terms of neither of the acquisitions has been disclosed by Dropbox.
The acquisition of Loom and Hackpad mark the third and fourth acquisitions for Dropbox this year thus far. The company’s earlier two acquisitions this year were the purchase of workplace chat app Zulip, which remained operational; and the acqui-hire of social and shareable reading platform Readmill.
Dropbox’s recently announced acquisition of Loom is a noteworthy move, given the fact that the Loom service basically puts all the photos and videos of its users in the cloud. The acquisition of the service comes in tandem with Dropbox’s launch of new photo and video sharing gallery called Carousel. As a result of the acquisition, Loom will shut down. Loom users can continue using the service till May 16; and also have the option of exporting their data to Dropbox.
Meanwhile, Dropbox’s other new acquisition Hackpad – which is a group collaboration tool, and has an interesting social component – has revealed in a blog post that the Hackpad service will not shut down after the company’s purchase by Dropbox.
Hackpad said in the blog post that, post acquisition, the Hackpad service 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.”
