The file transferring and sharing space is in a massive land grab mode as the industry starts to rise into the next multi-billion dollar realm.
After Dropbox rejected an $800m offer from Apple and Box.net reportedly rejected a $500m offer from Citrix, ShareFile saw the writing on the wall and decided to exit at the optimum time. Citrix acquired ShareFile at a 5.8x valuation, slightly less than the 7.5x valuation Box.net received in its latest funding round. ShareFile knew that to continue fighting with the big boys, they would need a lot more funding and be prepared to bleed money like Box.net is doing to the tune of $18m a year as they build their footprint.