Description: Dropbox’s ascent has been just as stunning. The 50-million-user figure is up threefold from a year ago, and it has solved the “freemium” riddle, with revenue on track to hit $240 million in 2011 despite the fact that 96% of those users pay nothing.
Date: Oct 18, 2011
What Houston does is Dropbox, the digital storage service that has surged to 50 million users, with another joining every second. Jobs presciently saw this sapling as a strategic asset for Apple. Houston cut Jobs’ pitch short: He was determined to build a big company, he said, and wasn’t selling, no matter the status of the bidder (Houston considered Jobs his hero) or the prospects of a nine-digit price (he and Ferdowsi drove to the meeting in a Zipcar Prius).
Jobs smiled warmly as he told them he was going after their market. “He said we were a feature, not a product,” says Houston .READ REST OF STORY
Questions for discussion:
- Why has Dropbox been so successful?
2. What is the “freemium” riddle? , and how has Dropbox solved it?