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Dropbox acquires Loom and Hackpad

Dropbox has announced two separate acquisitions over the last week which include Loom, a cloud based photo storage service provider and Hackpad, an online document collaboration firm.

The cloud storage company is having a busy month as it made a few major announcements such as the launch of its Mailbox application for Android devices, Carousel, photo sharing application for iOS and Android, and the management shakeup including the appointment of Condollezza Rice to the company's board.

Now, Dropbox has announced that it has acquired Loom which is a popular application on iOS devices for photo sharing and will be integrating their technology in Dropbox's own Carousel app while discontinuing Loom's own set of services by May 16, 2014 which is exactly one month from the date of the acquisition. Loom will no longer be taking new registrations and existing users will be transitioned to Dropbox Carousel. Users who do not wish to continue with Dropbox can download their Loom data in a packaged zip format.

The other acquisition by Dropbox was of Hackpad, which is a Y Combinator backed online collaboration tool, mainly used for taking notes and sharing. Hackpad announced that the company's services will continue the same way as before for existing customers as well as new customers.

Source: TechCrunch | Image via Techgig

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