Cloud storage firm Dropbox promotes Sujay Jaswa as CFO

California-headquartered cloud storage company Dropbox Inc. has promoted its vice president Sujay Jaswa as its first chief financial officer (CFO), according to a blog post by The Wall Street Journal.

The appointment comes ahead of Dropbox's IPO plans in 2014, and little over a month after the company raised $350 million from investors including BlackRock, T. Rowe Price and Morgan Stanley. The company also recently roped in Motorola Mobility's Dennis Woodside as its first chief operating officer (COO).

Jaswa, who joined Dropbox in December 2010, was most recently its head of partnerships. A Harvard Business School alumnus, he was earlier principal at New Enterprise Associates (NEA). Prior to that, he was director- business development at CinemaNow (now BestBuy). He had also earlier worked at companies like Cisco Systems and McKinsey & Co.

Dropbox was founded in 2007 by Massachusetts Institute of Technology (MIT) graduates Drew Houston and Arash Ferdowsi. It has since scaled up by adding users by touting its ease-of-use interface that syncs files across multiple devices and operating systems. It last claimed 200 million users.

In February this year, Dropbox raised $350 million at a $10 billion valuation with room to go to a higher total of around $450 million, with as many as 72 investors participating in the round. Dropbox had previously raised a little more than $250 million.

(Edited by Joby Puthuparampil Johnson)