Back in December of 2009, Steve Jobs of Apple had invited a young software engineer – Drew Houston, for a private meeting to discuss where they were heading in the “Cloud” storage business. Houston is of the “DropBox” fame today, but back then he was another entrepreneur with a clear vision and objective.
When Jobs showed interest in his project and tried to acquire DropBox as part of the Big Apple, Houston politely refused and said “DropBox is not for sale, no matter the status of the bidder“. It really takes a lot of guts and determination to say ‘No’ to an offer like that i suppose.
DropBox has since been growing at a steady momentum with 50 million users today using the service as a means of storage. The hard fact is that almost 96% of these users are subscribed to the free account which gives 2GB of storage. For this Drew simply says “Most of these 96% of the free subscribers are using up their 2GB so fast that we are seeing almost thousands of them per day upgrading to a paid service”.
DropBox has 2 premium paid services which cost $10 for a 50Gig space and $20 for a 100Gig. The revenue expected for the year 2011 is $240 million which is more than three times per employee of the company, considering that it employs just 70 people and most of them are engineers. With the existing customers itself, Houston is expecting to double his sales even without signing up a single new customer for 2012!!!!
Read the complete story here – Inside Story of DropBox.
See video below for what Drew Houston had to say on turning down Apple
Courtesy: Victoria Barrett of Forbes