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April 30, 2009

Drop.io Provides Secure Easy-To-Use Private File Sharing Service

Drop.io is an innovative network that allows users to privately share information and chat with a secured access that is easy to use and can also be accessed on Twitter, Our Blog, and FaceBook.  Drop,io is a privately owned company that is based in New York City and is founded in 2007.  Drop.io has two people on its management team and two people on its board of directors.  The way Drop.io works is quite simple.  According to the company’s website, users can create personal sharing points, known as drops, and share files by uploading content from the internet, email, MMS, Firefox, FaceBook, Twitter, and iTunes with just two clicks.   A Drop account can be protected by a password and is not searchable.  Drop.io’s file sharing and online file storage services is being widely used by many different users, who want a private, simple, and easy way to store and share files on the internet. 

The two cofounders of Drop.io are Sam Lessin and Doshar Somashekar.   Sam Lessin is an amazing individual.  At age 25, he has been able to raise $3.9 million from two major vc firms, PRE Ventures and DFJ Gotham.  Mr. Lessin thought of the idea of users being able to privately upload information on the internet.  Until the founding of Drop.io, most of the information that has been uploaded onto the internet has mainly intended to be publicly consumed.  In fact, one of the big problems with the social networks is incidents, such as unsuspecting teens and young adults uploading embarrassing personal information onto the internet and that information being seen by all kinds of people.  This has cost some teens job opportunities, friendships, etc.   Drop.io adds privacy to uploading files.   In fact, what sets Drop.io apart with other social networks is that Drop.io allows users to be able to share information with only a select few users online, unlike social networks such as FaceBook or MySpace that has all your files out for public viewing.  This innovation was the reason for BusinessWeek to put Sam Lessin on the magazine’s “Top Young Entrepreneurs” list of 2009.

The other cofounder of Drop.io is Doshar Somashekar, who at age 23 has already founded two internet startups.  Along with co-founding Drop.io, Doshar Somashekar also founded EasyBib.com, which is an online bibliography creator.  Mr. Somashekar holds a BA in Public Policy from Brown University and has also worked at management consulting firm, Bain & Company.

In November of 2007, Drop.io received $1.2 million in series A funding from PRE Ventures and then in March of 2008, the company received $2.7 million in series B funding from DFJ Gotham Ventures and PRE Ventures. 

The latest news about Drop.io comes from a press release dated March 10, 2009, which states that Drop.io is going into real-time streaming.  After FaceBook started to do real-time streaming, it’s quite obvious that Twitter’s model for fast file streaming is becoming the norm of social networking.  Drop.io is also planning to ad a new feature to its service that is somewhat like Google Docs.  This allows the user to be able to chat about a given drop file in real time.

PRE Ventures is a prominent vc firm that has invested in the following companies: Proofpoint, MontaVista Software, Vocera Communications, Data Robotics, Electric Cloud, SoftCoin, Teja Technologies, Finjan Software, Tradec, Ember, and others.

DFJ Gotham Ventures is a New York-based vc firm that mainly focuses on early stage investments in the IT industry in the Northeastern part of the United States and Israel.   DFJ Gotham likes to invest in entrepreneurs who are outstanding with both their teams and products or services.   The goal that DFJ Gotham Ventures sets for its invested entrepreneurs is to build strong outstanding companies that excel in the marketplace.   Other companies in DFJ Gotham’s protfolio include ContexWeb, ExpoTelevision, Ingenio (acquired by AT&T), Izea, Magnolia, and others.

Though Drop.io looks like it has a good foot in the marketplace, it does have a couple of competitors.  One of these competitors is YouSendIt, which is a privately owned corporation that was founded in 2003 and is based in Campell, California.  The company has nine people on its management team and five people on its board of directors.  YouSendIt provides a service which allows users to send digital content to each other.  YouSendIt also claims to be the most trusted global content delivery service.

Drop.io’s other major competitor is FileQube, which offers users free, secure, and easy web hosting that allows its users to upload an unlimited amount of large files.  FileQube was founded in 2008 and is a privately owned limited liability corporation (LLC).

Find out more about Drop.io by clicking here.