Dropbox: The company everyone wants to kill

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 3 months ago '17        #1
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Enigmatic1 342 heat pts342
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Dropbox: The company everyone wants to k!ll
 

 
Not long after Dropbox launched, Apple threatened to k!ll it.

Steve Jobs summoned Dropbox CEO Drew Houston for a 15-minute meeting at Apple's headquarters in 2009 to discuss buying the cloud storage startup. But Houston wasn't interested in selling.

As Houston later recalled in one interview, Jobs began "taunting a little bit: 'Look, we're gonna have to come after you.' " In 2011, Apple did just that with the launch of iCloud.

Yet, Dropbox is still here. And nearly a decade after that ominous meeting, Dropbox is on the cusp of having one of the largest tech IPOs in recent years. It is looking to raise $648 million at a valuation of about $7.4 billion, according to a filing Monday.

When it does go public, Wall Street will have to adjust to a reality that Dropbox insiders have long contended with: Nearly every big tech company wants to k!ll it.

Apple (AAPL), Google (GOOGL), Microsoft (MSFT) and Amazon (AMZN) have all launched rival services for storing documents, photos and other files online. In its IPO paperwork, Dropbox said it only expects the "competition to intensify in the future."

The fierce competition is "definitely part of the noise you're always going to have," says Aaron Levie, CEO of Box (BOX), a similar service to Dropbox that focuses on business customers and went public in 2015. "Neither of us signed up for that necessarily. We created our companies before those other players [launched rival products]."

Houston, 35, has managed to weather that pressure to date by virtue of being a "very chill dude," according to Hadi Partovi, an early investor in Dropbox.

"Many others might be stressed out by having companies with a collective market cap of many trillion dollars competing with him," Partovi says. "Drew has always had a steady hand."

Not all investors are so chill about the growing number of rival services.

"Now, you don't need to go to Dropbox to do all the functions that they have," says Santosh Rao, who tracks Dropbox as head of research at Manhattan Venture Partners. "You can live without Dropbox."

That doesn't mean Dropbox is doomed, but Rao says the company's opportunity may be closer to Twitter (TWTR) than Facebook (FB). "It doesn't have the mass appeal of a Facebook, but I think in a niche market, it has its presence," he says.

Dropbox topped $1 billion in sales for the first time last year, and has worked to trim its losses by cutting costs, including certain office perks. But the company still lost more than $100 million in 2017.

By tech standards, though, those numbers aren't so bad. Unlike Snapchat (SNAP), Dropbox's losses aren't growing ahead of its IPO. And unlike Blue Apron (APRN), there's no new threat from a tech giant like Amazon at the last minute before it goes public.

What's more, analysts say Dropbox's $7 billion valuation is reasonable, certainly more so than the $10 billion valuation it had on the private market back in 2014.

"At first glance, it doesn't look like a train wreck," says Matt Kennedy, an analyst at Renaissance Capital, which manages IPO-focused exchange-traded funds. "It's not viewed as another Snap or another Blue Apron or some of the other consumer tech IPOs that haven't done so well."

But there may be more at stake with this IPO than the future of Dropbox. More blockbuster tech IPOs like Lyft, Uber and Airbnb are thought to be coming in the next couple years. Spotify recently filed to go public.

The Dropbox IPO, Kennedy says, "will set the tone."
hot topic and 14 others gave props
 

44 comments for "Dropbox: The company everyone wants to kill"

 3 months ago '06        #2
new2hiphop 2 heat pts
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 3 months ago '04        #3
mr_underground|m 2011 heat pts2011
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$23,445 | Props total: 30493 30493
i wouldn't buy it. i have dropbox but i use my onedrive, icloud and google drive way more. its easy to create your own cloud storage now. not sure whats left to innovate here.
The Waraba and 15 others gave props
 
 3 months ago '05        #4
QualityRecords 9 heat pts
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$15,981 | Props total: 3155 3155
I think Amazon is about to get into cloud storage very heavily.
Boxden25 and 4 others gave props
 
slim_d20 slapped this ish
 
 3 months ago '05        #5
reasonable 13 heat pts13
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$14,837 | Props total: 1896 1896
got 3 and half years of vested pre ipo stock ready to be sold once they officially go public
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 3 months ago '12        #6
Mickey Bricks 100 heat pts100
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Blockchain is going to wash Dropbox (Sia, IPFS/FileCoin, StorJ, etc)...they better grab that $ while they still can


Last edited by Mickey Bricks; 03-13-2018 at 02:30 AM..
DizAznLuvPho and 8 others gave props
 
TriniSoldier and 1 others slapped this ish
 
 3 months ago '09        #7
TriniSoldier 69 heat pts69
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many have tried, and all have failed. dropbox aint going nowhere
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the undertaker slapped this ish
 
 3 months ago '16        #8
00010111 69 heat pts69
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Haven't used Dropbox in at least 5 years.
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Game375 slapped this ish
 
 3 months ago '17        #9
bxivz 
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I used to have Dropbox then I bought the Lima I keep my files at home on my own external drive. I believe its more convenient. I can access like if it was a cloud when ever i want. Not have to pay for services.
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 3 months ago '14        #10
CEITEDMOFO 396 heat pts396
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I DONT USE ANY OF THAT sh*t
P Glizzy and 6 others gave props
 
 3 months ago '07        #11
ptwist 49 heat pts49
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 TriniSoldier said:
many have tried, and all have failed. dropbox aint going nowhere
"Dropbox me the files" is about in the same realm as "I'll Venmo/Paypal you"

It's more neutral than icloud and google drive which supports their obvious brands.

Thing is, normal consumers still find it tough having to pay for DB to get their premium features. Small business pros like wedding photographers, videographers etc. love it though and if they can keep growing that sector and still find ways to casuals to hop on they'll improve on their losses.
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 3 months ago '04        #12
BigJay.inc 73 heat pts73
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Dropbox is for casuals. Box went enterprise on em. I would have done more for business in my opinion if I were Dropbox.

At my office we use Box as there are so many integration opportunities.

Dropbox will still do ok though.
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 3 months ago '16        #13
DizAznLuvPho 33 heat pts33
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 Mickey Bricks said:
Blockchain is going to wash Dropbox (Sia, IPFS/FileCoin, StorJ, etc)...they better grab that $ while they still can
I'm invested in Sia coins. That will definitely take off.
 3 months ago '15        #14
Kden 59 heat pts59
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$9,042 | Props total: 22603 22603
Dropbox banned from my company cuz of its vulnerabilities




Granted all cloud services are vulnerable
*-InfiniMatic-* gave props
 
 3 months ago '16        #15
KWizzle 1 heat pts
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$5,796 | Props total: 10268 10268
I still use dropbox for my music
the undertaker slapped this ish
 
 3 months ago '04        #16
RIAA 26 heat pts26
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The consulting company I work for has a Dropbox for Business account and we all love it.
 3 months ago '12        #17
BrokenSafety 40 heat pts40
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I use OneDrive
 3 months ago '17        #18
arms 6 heat pts
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Decentralized cloud services will k!ll dropbox
crazyquicks gave props
 
 3 months ago '04        #19
Tha754kid 1 heat pts
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I fukk with Dropbox heavy
*-InfiniMatic-* gave props
 
 3 months ago '17        #20
Hater 11 heat pts11
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 CEITEDMOFO said:
I DONT USE ANY OF THAT sh*t
if you have android or ios, I'm pretty sure you're using some form of it.

- Is your contacts backed up aka, when you upgrade your phone you don't need to input all contact in manually by hand? if the answer is yes, then you're using cloud based services.

- Is your bookmarks crossed synced between devices?
if yes, then you're using cloud based services.

we all use cloud based services, unless you have a burner phone for drug deals :jtlol:
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Mark-Ez and 2 others slapped this ish
 
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