Dropbox CEO Sees 2021 as Chance to Fix WFH ‘Pain Points’
It was a “transformational year” for Dropbox, as the world “abruptly shifted to working from home due to the pandemic,” said CEO Drew Houston on a Q4 call Thursday. “We helped many of our customers through this transition” and “adapted…
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quickly to the new environment ourselves,” reorienting product “to address many of the new challenges and opportunities that distributed work presents,” he said. Revenue for the year increased 15% to $1.91 billion, he said: “We ended 2020 with more than 15 million paying users and 525,000 business teams.” Dropbox experienced a surge in demand during the onset of COVID-19, including “elevated trial starts” that were “mostly isolated to the first half,” said Houston. “Engagement broadly has been up.” Permanent work-from-home rituals in 2021 and beyond “will be a tailwind, given that folks are shifting to distributed work and Dropbox becomes a lot more important when you're working out of the screen,” he said. “We see a lot of opportunity to address new pain points in the virtual work experience. Everybody has a need to keep all their content organized. It's a very fragmented and distracting and overwhelming experience now.”