Story of the Week #1: Dropbox

Jayashankar Mallepati | 10.10.2013

We have taken up this section just to give a glimpse of the most famous people, inventions or discoveries in recent times specially related to Technology

As many people are aware, Dropbox is a free service that lets you bring your photos, docs, and videos anywhere and share them easily.

The story of Dropbox is the story of a guy (who was later joined by another guy) who knew there needed to be a better solution to a problem hundreds of millions of people have, and put one foot in front of the other, relentlessly, day after day to build it — while constantly taking criticism of mentors and pushing himself to be better.

Dropbox was founded in 2007 by Drew Houston and Arash Ferdowsi, two MIT students tired of emailing files to themselves to work from more than one computer.While seemingly unremarkable, what makes this story so great is that the results have (so far) been stunning. Unlike Digg, Dropbox has become more than just a compelling product with an early fan base. It’s become one of the most impressive companies of Houston’s generation — the kids lured out of school to the magical land of California more by the promise of Y Combinator than the promise of Netscape.

Dropbox was valued at a whopping $4 billion at its last funding round, and is one of a handful of top IPO candidates to watch. It has 100 million users — many of whom actually pay to use the service. It’s one of only a few freemium companies that seems to work. It could easily become the world’s largest subscription success stories of the consumer Web.

“What makes Houston so compelling isn’t some cover-ready story of rags to riches or genius or unlikely serendipity: It’s that he wasn’t just a guy who dreamed and talked about building a huge company. He made it happen”.
- Halle Bateman from Pandodaily

In June 2013, MIT invited Houston to serve as speaker at its annual commencement ceremonies. In his remarks, Houston gave this advice: "They say that you're the average of the 5 people you spend the most time with. Think about that for a minute: who would be in your circle of 5? I have some good news: MIT is one of the best places in the world to start building that circle. If I hadn't come here, I wouldn't have met Adam, I wouldn't have met my amazing cofounder, Arash, and there would be no Dropbox. One thing I've learned is surrounding yourself with inspiring people is now just as important as being talented or working hard. Can you imagine if Michael Jordan hadn’t been in the NBA, if his circle of 5 had been a bunch of guys in Italy? Your circle pushes you to be better, just as Adam pushed me."

Drew Houston’s Full Interview to MIT technology
http://techcrunch.com/2011/11/01/founder-storie-how-dropbox-got-its-first-10-million-users/ Houston’s Advice to Entrepreneurs

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