Dropbox Acquires Shopping Loyalty App Maker Endorse
Dropbox has acquired Endorse, a startup that had developed deep relationships with big consumer brands.
San Mateo, Calif.-based Endorse, which had raised $4.25 million from Accel Partners and SV Angel, was founded in 2010 by Steve Carpenter, who previously founded and sold Cake Financial to Etrade.
Carpenter announced the Dropbox acquisition on the Endorse blog today, saying he was eager to join “an incredible team with ambitious goals and lots of difficult and exciting technical and business challenges ahead.” He had told Endorse users a month ago that the service was shutting down and that they had 10 days to transfer their credits and redeem their points.
It’s unclear how Endorse’s expertise could help Dropbox — which doesn’t do much of anything around brands and offers — but it may just be a way for the company to snag an established team in a competitive hiring environment.
A spokesperson for Dropbox sent the following statement: “Dropbox has acquired Endorse, and we’re excited to have their top-notch talent join the Dropbox team.”
According to LinkedIn, Endorse had 18 employees, drawing largely from YouTube and PayPal. Its partners included Procter & Gamble, Mondelez, Pepsico, General Mills, McCormick, and Popchips.