San Francisco, Calif. — Dropbox, a cloud-based file hosting service that enables its users to access their documents from any computer, is reportedly raising $200-$300 million in a new round of funding, TechCrunch wrote. This would value the company at $5-$10 billion, a figure that took many by surprise.

Previously valued at $7 million, if this funding round proceeds, Dropbox’s valuation would be level  to Twitter’s. Expansion into European and Asian markets build upon the platform’s infrastructure and brand.

The company currently has a funding total of $7.1 million from Accel Partners, Sequoia Capital, Y Combinator and others.

Founded in 2007 by Drew Houston and Arash Ferdowsi and launching in 2008, the company hosts a total of 25 million registered users.

Early on, the company faced legal challenges regarding its brand name. One of these, Office Corporation ( v. Dropbox Inc., is currently on trial in Texas. Dropbox experienced more difficulties in June, when a security breach made it possible to access any account using any password, not necessarily the one associated with that account.

Related Links: (TechCrunch)