Dropbox is shifting away from the public cloud and opening its own international private network to ensure users can access their files as fast as possible, Fortune reported.
The San Francisco-based company will open network facilities in Sydney, Miami and Paris in Q3 of this year with Madrid and Milan following in Q4. That will increase the file sharing company to 22 facilities in 10 countries.
70% of Dropbox users are located outside the U.S., but most of the site's data is within North America. Increasing global presence with new buildings equipped with private load balancers will reduce bottlenecks and slowdowns, Dropbox product engineering head Dan Williams said.
Dropbox previously astounded experts when the private company moved 90% of its data out of Amazon.com (AMZN) Web Services' cloud system and into its own data centers. What remains on Amazon's servers is data in countries such as Germany that require user data to stay in the country of origin.
What's Hot On the TheStreet
All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be
But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.