Dropbox Gears Up For More Growth And Competition Against Rival Cloud Services
Dropbox has been experiencing phenomenal growth in its business over the past few months. The firm wants to maintain the forward momentum by offering Enterprise services that will allow it to harness more growth as well as gaining competitive ground.
Speaking at the company’s first press conference on Wednesday, the firm’s CEO and co-founder Drew Houston announced that more than 150,000 firms are subscribed to the Dropbox business product. This means more than 50,000 businesses jumped on board since the company’s previous announcement in September.
Dropbox has been compared with a rival business called Box, whose main aim is to provide powerful tools for businesses. However, Dropbox points to its paying business clients as a major advantage over Box. Dropbox was last valued at $10 billion. It currently has about 400 million users, though the business adoption rate is low. The company plans to enhance its appeal to more businesses through a simple strategy.
Many people use Dropbox to synchronize their files. This habit is rapidly extending to millions of businesses. The increasing popularity is mainly due to how easy it is to make files accessible to multiple users. This feature has been one of the key reasons why organizations are jumping on board with the business packages especially because of the reliability and ease of use. It is, therefore, becoming the darling of many IT departments.
Granted, Dropbox still has a long way to go as far as competing with cloud services offered by major firms such as Alphabet Inc (NASDAQ:GOOGL). One of the advantages that major firms possess is the ability to offer elaborate productivity features. However, Dropbox is working on a paper collaboration product that is expected to widen its range of offerings.
Dropbox efforts to boost performance are clearly paying off, but there is still room to harness new technologies and push further growth. Critics believe that the company still has an arsenal of products that it plans to use for future growth.