Dropbox ipo11/14/2023 ![]() Their net revenue retention is ~100% for Dropbox Business teams and their blended net revenue retention across the entire business is 90%+. and no customer represents more than 1% of revenue. Half of Dropbox’s revenue is outside the U.S. Customers can choose between an annual or monthly plan and a majority choose annual plans. The company has ~92% of the Fortune 500 with paying users and 56% have at least one paying Dropbox Business team. They estimate an additional 50% use Dropbox for work on an individual plan, which totals ~80% of paying users. Of the 11M paying users, ~30% use Dropbox for work on a Dropbox Business Team plan. ![]() Their free cash flow margin has been improving dramatically over the past few years, and was at 28% in 2017, up from 16% in 2016 and (11)% in 2015.ĭropbox generates revenue by selling subscriptions to their product. Their GAAP operating margin was (10)% in 2017, but the non-GAAP margin was 5%. While on a GAAP basis, Dropbox is losing money, the company generated $0.18 of non-GAAP earnings per share in 2017, an incredible feat for a software business of their size and growth. In terms of implied ARR (annual recurring revenue), they are at $1.2B and growing 28% YoY. In 2017, over 40% of new Dropbox Business teams included a member who was previously a subscriber to one of Dropbox’s individual paid plans.Īs of December 31, 2017, Dropbox was receiving over 50 billion API calls per month, and more than 500,000 developers had registered and built applications on their platform.ĭropbox did $1.1B in revenue in 2017, up 31% YoY. More than 75% of Dropbox Business teams have linked to one or more third-party applications. Those same users have also created 4.5 billion connections to shared content. Their users have added more than 400 billion pieces of content to Dropbox’s platform, which represents more than an exabyte (more than 1,000,000,000 gigabytes) of data. Dropbox has some Business Teams in the tens of thousands of users. ![]() There are 300,000 paying Dropbox Business Teams (minimum of 3 users). Here are a few product and user stats ĭropbox has over 500M registered users across 180 countries, with 11M (2.2%) paying them.Īverage Revenue per User (ARPU) in 2017 was $111.91.ġ00 million users have signed up since the beginning of 2017. Dropbox’s product is inherently viral and demonstrates powerful network effects- users get a Dropbox link from a friend, see how easy and elegant the product is, and sign up themselves. Dropbox is the king of the prosumer GTM (go-to-market) with over 90% of their revenue being generated by self-serve channels. The company will trade under the ticker “DBX” on the Nasdaq.ĭropbox was founded in 2007 (originally named Evenflow) as an easy-to-use consumer cloud storage product - the company describes the founding based on the idea that “life would be a lot better if everyone could access their most important information anytime from any device.” They have since expanded the product significantly to become a full collaboration suite. Dropbox, the leading cloud storage and collaboration platform, filed for a $500M IPO with Goldman Sachs leading the offering. ![]()
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