Here is a tidbit from the company website that gives you a flavor of it:Ī key innovation for Dropbox last year was the launch of its Desktop app which is essentially the new Smart Workspace. They will look good on this one soon enough.ĭropbox has evolved from simply a file storage platform to a content collaboration platform where multiple users can collaborate (commenting together) on the same files and Paper canvasses (I’ll explain Paper in a moment) to a new further evolution to what the company aptly refers to as “Smart Workplace”. The “professional” analyst community-you know the guys on the quarterly earnings calls trying to figure out if the operating margin will be 10% or 12% next quarter (or whatever)-seems to have finally figured it out and their increasing target prices reflect this. I have yet to read an articulate bear case from someone who actually understands what the company does and what its edge is. I do not get mad, I get glad because it ultimately always pays to see a picture more clearly than others. Some investors still think that this is all the company does. For a company with a vision to make work better, it was a good place to start and we should not forget that it was the leader in doing so giving it a fundamental legacy of success. My business workflows and investment writing continues to get more deeply integrated into the Dropbox platform.ĭropbox started as simply a cloud backup and storage provider. The software runs and synchronizes on all my devices and it always does so flawlessly. If I get some bright idea in the middle of the night, I can reach for my phone and type right into this same Letter.
I started this Letter on a Mac desktop computer but I am now continuing it on a Macbook Pro laptop. I just need a computing device (desktop computer, laptop, tablet, of phone) and an internet connection. I do not have to deal with hard drives, etc. Right now, I am typing on the Dropbox Paper app and as I do the content gets automatically saved and backed up by Dropbox. The customer pays for the platform software that is accessed through an internet browser or synchronized desktop applications. Dropbox provides the technology infrastructure and computing platform in “the cloud” which means it has data centers around the world that store and secure customer data (infrastructure) and a cloud storage platform integrated with a “workspace” that resides on that infrastructure. This is an opportunity.ĭropbox is a software-as-a-service (SaaS) cloud company. From the beginning, Houston has had a consistent message and execution on a strategy of “making work better.” This strategy has hit its wheelhouse in the 2020 Covid work-from-home era but the market continues to yawn. Since I started following Dropbox ( DBX) a few years ago I have gone back and listened to several historical interviews with Co-founder and CEO, Drew Houston.
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