One such company that investors (and bankers alike) are salivating over is Dropbox, the cloud computing company led by CEO Drew Houston.
Dropbox allows users to store their photos, docs, and videos in the cloud, and bring them anywhere and share them easily. The company was founded in 2007 by Houston and Arash Ferdowsi while they were at MIT after they had had enough of emailing files to themselves. As of July 2012, Dropbox had less than 150 employees according to its
LinkedIn page, but noted it is looking to expand.
There are three types of Dropbox accounts, Free, Pro, and Teams, which is offered toward businesses. Dropbox allows users to store 2 GB of data for free, all the way up to 18 GB if you refer other users. The Pro plan starts at $9.99 per month for 100 GB worth of storage, and increases from there. The San Francisco-based Dropbox has been consumer-oriented in its focus, but the company is increasingly putting more attention toward businesses, where it believes additional growth will come from. The company is reported to have generated $240 million in revenue in 2011, though nothing is known about 2012 revenue. According to the company's Web site, Dropbox has more 100 million people across the globe using its products, so it already has a wide user base. Dropbox became so popular so fast that then Apple (AAPL - Get Report) CEO Steve Jobs approached Houston about buying the company in 2009 with a "nine-figure offer," but was ultimately rebuffed.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts