Dropbox has acquired Loom, a photo and video cloud storage solution. The company previously raised $1.4 million of seed funding in October 2013. Investors exiting the company include Google Ventures, Great Oaks Venture Capital and Y Combinator, among others. Loom will reportedly stop enrolling new users and will help current customers transition to Dropbox; the service is planning to shut down by May 16, 2014.
Dropbox also announced that it purchased document-collaboration app developer Hackpad, another Y Combinator alum. Hackpad will continue to be supported for both existing and new customers