In a blog post, Verst CEO Aj Frank announced Verst’s acquisition and that he and seven members of his team will be joining Dropbox.
Frank said they are joining Dropbox to “to help build simple, powerful products for more than half a billion users” and “apply everything we’ve learned towards Dropbox’s mission to simplify the way people work together.”
The acquisition price was not revealed, and Dropbox didn’t mention what the Verst team will be doing.
Verst’s assets and intellectual property are not part of the acquisition, Frank also said.
The buyout of Verst comes just a few months after the company – which first started out as DWNLD that created customized apps – raised $12 million in a Series A funding round led by Greylock Partners in 2015.
Frank, however, told Business Insider early this year, that many people were not using custom-made apps to read or watch content and instead use either social media sites, notably Facebook – or the Internet.
The startup then shifted its focus and became Verst early this year.
Verst was launched as a blogging platform with built-in traffic and revenue optimization features.
Meanwhile, Frank provided details of what will happen to publishers using Verst following the latter’s acquisition by Dropbox.
A Dropbox spokesperson said in a statement sent to TechCrunch that they are excited to work with the Verst team as “their talent in building simple, powerful publishing tools will help us create new product experiences that unleash our users’ creative energy.”
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