DropBox buys startup Sold

Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term storage service DropBox has recently announced their purchase of Sold, a US based ecommerce Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term.

Sold was a marketplace concept that allowed anyone who downloaded their iPhone or Android application to sell just about anything. The service worked in a way that the user would take a photo of the item for sale, and make a short description. After that, Sold would evaluate the product and price it accordingly and put the item up for sale. Once sold, a customized package was sent to the seller and pickup was arranged.

The service was intended to simplify online selling for casual users who were not interested in committing to larger marketplace websites, like eBay and Amazon.

Sold announced that as of today, they will be ending their services due to the acquisition. No word yet on any future plans or products, although Sold did mention in their announcement posted on their website that DropBox’s roadmap does coincide with their ideology of creating solutions that affect people.

Sold has been around for about 7 months and has received $1.2 million from startup investors like Google Ventures, Greylock Partners, Matrix Partners and the team at Boston Seed. Within its short lifespan, Sold has shown significant growth with over 2,000 items sold as of September, and saw 50% growth month after month. Although the startup never reached 1 year of activity, the company was estimated to gain $1 million in annual revenue.

We are only left to guess what the cloud service giant is planning for the future, and it will be interesting to see their innovative take on ecommerce. We can only wonder if it will be as innovative as DropBox was when it was introduced.