![]() Houston has proven to be quite efficient with his operations. But the company has been able to nonetheless generate substantial free cash flows. It’s true that Dropbox continues to post net losses (in terms of GAAP accounting). Since inception, more than 400 billion pieces of content have been saved to the platform. Today Dropbox is a massive business, with 500 million registered users and 11 million paying members. Yes, for the most part, Houston made the right moves. This was because users would often share their files with friends and colleagues. Oh, and there was another advantage: Dropbox proved to be viral. The result was that this helped to greatly spread the service. He also was smart to use the freemium model. That is, the Dropbox was available for free - until certain limits were reached. We even got fan mail from an inventive group of farmers who were using Dropbox to coordinate tractors via satellite (we never really figured out how that worked).”īut Houston was not just about creating cool technology. We heard from scientists researching Alzheimer’s, filmmakers at Sundance, and disaster relief workers rescuing earthquake victims. ![]() Many of them would write in saying how much they loved the product, and their stories were fascinating. It was not long until Dropbox became a red-hot startup.Īccording to Houston: “Seemingly overnight, millions of people around the world were using Dropbox to sync their photos and documents. ![]() Yet Houston quickly realized that his service could have wide applications and seemed like a great business opportunity. This meant that data was centralized and could be synced across the web and mobile devices. So he coded his own solution by leveraging the cloud. It was cumbersome - and yes, he frequently lost his devices! The roots of the company go back to 2007, when MIT student Drew Houston was frustrated with his USB flash drive. In all, the market value of the Dropbox IPO is about $13 billion. The company raised $756 million, of which $193 million went to various insiders. (NASDAQ: DBX) pulled off the biggest tech IPO of the year, with the shares up 43% to $30 in early trading.
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