Dropbox has announced the acquisition of the New York-based publishing platform Verst. 

Verst, a platform which helped smaller web publishers make money through paywalls, only debuted its tools this year. 

The acquisition does not include Verst’s assets or intellectual property.

Verst started off initially as DWNLD before changing its name. DWNLD began as a platform that redesigned internet sites into cellular apps.

Before turning into Verst, the platform raised an impressive $12 million in Series A led by Grelock Partners. It launched earlier this year as a blogging platform that has site visitors and inbuilt earnings optimization equipment.

In the same announcement Verst revealed that the current service will be shutting down on December 21st.

“In short, we will be shutting down the platform on 12/21 so that we can apply everything we’ve learned towards Dropbox’s mission to simplify the way people work together,” stated the CEO of Verst, AJ Frank, in a blog post.

A Dropbox spokesman spoke of his delight over the announcement in an interview with TechCrunch.

“We’re excited to welcome the Verst team to Dropbox. Their talent in building simple, powerful publishing tools will help us create new product experiences that unleash our users’ creative energy,” he said.

Dropbox has grown astonishingly since it was founded in 2007 and today is valued at more than $4 billion. The company’s CEO, Drew Houston, has an estimated net worth at $1.08 billion.

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