Dropbox Plans $350M AI Infrastructure Deal With Tigris Buy, Its Biggest Acquisition Yet
Dropbox has announced plans to acquire Tigris Data for $350 million in a transaction the company told Crunchbase News would mark its largest acquisition since its founding in 2007.
Dropbox has announced its largest acquisition yet, purchasing Tigris Data for $350 million, marking a significant shift in its AI strategy. Founded by former Uber engineers, Sunnyvale, California-based Tigris is developing a network of localized data storage centers capable of handling the distributed compute needs of modern AI workloads.
Tigris has raised approximately $31.9 million since its inception in 2021, with a recent $25 million Series A round led by Spark Capital and participation from Andreessen Horowitz and Basis Set Ventures. The acquisition, which coincides with Dropbox's expansion into AI infrastructure, will give the company a storage platform tailored for developers running applications across multiple cloud providers.
Dropbox describes the deal as a faster route into a market serving a different audience than its existing file-sharing software. The company's chief business officer, Eric Webster, highlighted Tigris's existing production capabilities, experienced team, and established relationships with AI developers as key advantages. Dropbox's AI strategy involves bringing AI capabilities to its existing file-sharing product and offering infrastructure for AI applications through its new DBX Agent Cloud offering.
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