The San Francisco company claimed 500 million users in 180 countries and $1 billion in annual revenues in documents filed with the Securities and Exchange Commission. The valuation based on recent private investment in the group stands at around $10 billion, making Dropbox one of the biggest Silicon Valley venture-backed startups. Dropbox woos users with a free version of its online file-storing service, then entices with premium features to upgrade to paid subscriptions. While there were more than 500 million registered Dropbox users at the end of last year, only 11 million of them were paying subscribers, the firm said in the regulatory filing. Dropbox also warned potential investors that it faces threats from hackers out to plunder potentially valuable data from the cloud.

Source: The Nation Bangkok February 23, 2018 22:07 UTC