Unleashing the world's creative energy by designing a more enlightened way of workingĭropbox's mission statement is one of the most banal, hollow, vapid - choose your adjective - you'll ever see, which is saying something in an industry known for empty, misleading spin. Vague, idealistic mission statement belies reasonable strategy Most encouraging, it shows that the company understands that its raison d'etre, cloud-based file sync and share, has become a commodity service and that it must evolve into an all-inclusive business collaboration platform and away from Dropbox's historical focus on consumers.
That seems a tall order when its primary direct competitor, Box, has a market capitalization of $3.2 billion, but based on the published financial data, Dropbox is significantly larger and closer to profitability.Īs expected, the Dropbox S-1 filing includes many interesting, previously unknown items that shed light on the company's financial health, internal operations, and business strategy. The IPO, rumored for more than a year, would value the company at about $15 billion if sales of its class A shares hit the $500 million proposed maximum offering price based on the number of outstanding class A and B shares listed in the filing. Dropbox, the decade-old company that along with its like-named competitor, Box popularized the concept of cloud-based file storage and sharing, made its long-awaited IPO plans official Friday in a filing with the US SEC.
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