This caused the company's net loss to swell to $467 million compared to a loss of $59 million a year ago.Since its launch in 2007, Dropbox has continually impressed the industry with its growth in the cloud file sharing space.
In the first half of 2018, Dropbox's research and development expense increased 178%, and sales and marketing expense expanded 79%. In order to do that, the company has to invest heavily in marketing and product development. Staying ahead of competitors will require big investmentsĭelivering new features and expanding its service offerings is crucial for Dropbox to keep growing its user base.
It does this by only syncing changes to files instead of updating the entire document like Google Drive. Sync speed is what Dropbox is known for. The company has been recognized for delivering the fastest upload and download speeds among its peers.
In its S-1 registration filing, Dropbox states, "Our 500 million registered users are our best salespeople." Since millions of people are already familiar with Dropbox, there's a good chance a given business looking for the right file-sharing service for its employees may choose Dropbox Business over a competing service.Īdditionally, Dropbox has several features that make its offering very competitive, including Smart Sync and a slick team collaboration tool called Dropbox Paper.ĭropbox Paper features a minimalist interface of just a blank screen with advanced technology running behind the scenes, which allows multiple users to easily create new templates from scratch and drop files into the document, including music tracks and video files.Īll changes are updated in an instant, which highlights Dropbox's sync speed as another advantage. Interestingly enough, Dropbox also has a partnership with Microsoft, giving premium subscribers full integration with Office 365. Dropbox offers similar integration features for Google Drive users. The combination of user friendliness and an open-platform strategy has been a winning card for Dropbox so far.īecause of these partnerships, Dropbox has made its service ubiquitous for potential business employees who are looking for a file-sharing option to use with co-workers. This is a key selling point for many, as more than 75% of Dropbox's customers who subscribe to a premium business plan have linked their Dropbox account to at least one of these third-party services. Its subscription services are compatible with many third-party business apps from companies such as, Adobe Systems, and many others. One of the things management has always recognized is that clients choose a file-sharing solution mostly on user friendliness. Dropbox has designed very clean apps that are easy to navigate.
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