Drew Houston announced he will retire from the chief executive role at Dropbox, where he has served since founding the company in 2007. Dropbox introduced online cloud storage to mainstream users, replacing file transfers via external drives, USB sticks, or email. Adding a file to Dropbox made it available nearly instantly across devices, helping the service become widely adopted. Dropbox now operates in a competitive environment against Google Drive, Apple iCloud, and Microsoft OneDrive. The company reports 700 million global registered users, including more than 18 million paid users. For the most recent quarter ending March 31, Dropbox reported $629.5 million in total revenue. Houston’s CEO departure is not immediate, with a transition period underway.
"Today, Dropbox founder and CEO Drew Houston announced he will be retiring from the chief executive role at the company. Houston has been with the cloud storage provider in the role since he founded Dropbox in 2007."
"Before Dropbox, the standard way most users transferred files between their devices was by using external hard drives, USB sticks, or emailing files to themselves. Dropbox proved there was an easier way to transfer files: using the burgeoning cloud. The technology was also simple and reliable to use: simply add a file to your Dropbox, and it was available nearly instantly on all your devices."
"Of course, since then, online storage and file sharing have become integrated into nearly every major internet platform, with Dropbox now facing stiff competition from the likes of Google Drive, Apple iCloud, and Microsoft OneDrive."
"The company says that Dropbox currently has 700 million global registered users, of which more than 18 million are paid users. For its most recent quarter ending March 31, Dropbox reported $629.5 million in total revenue."
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