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Storage - Tuesday, October 24, 2006

DFJ Invests $1.5M In Flop-house Kids - Box.net

box.net image.gif Box.net offers 1GB of file storage for free or 5GB for $4.99 per month. It claims to have signed up 500K registered users in less than 7 months. Today the company announced it has raises some growth capital from DFJ. While there is a lot of growth here there is also a boat-load of competition.

Box.net wants to be different by positioning itself as a collaboration hub, and on the marketing side it is giving a bear-hug to bloggers and the Web 2.0 crowd. For sure, with just 1GB of free storage, Box.net doesn't stand up well when you compare storage you can get for free. At the high end of free, Streamload provides 25 GB of storage and AOL's Xdrive is free up to 5GB.The box that box.net is in is that cheap users who want to get more than 5GB of free storage can easily get that elsewhere.


Alexa is probably not the best way to display success here, but it does show relative strength

It's tough to rationalize why DFJ came in at this round without knowing the valuation. We know that Mark Cuban who had invested in an angel round cashed out here.

box.net.jpg
The Chron did a story on the Box.net crew and how they live/worked in a communal house in Bezerkeley. They have since moved on to Palo Alto.

Read - Boxnet Announces Funding (TechCrunch)
Read - GRUNGE INC. LIVE-IN STARTUPS COMBINE FRAT-HOUSE CULTURE WITH VENTURE CAPITAL (The SF Chronicle)

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