Dropbox is a cloud storage and file sharing service that allows users to access and sync files across multiple devices. It was founded in 2007 by Drew Houston and Arash Ferdowsi to address Houston's problem of losing track of USB drives. Dropbox uses AES-256-bit encryption to securely store and sync files across users' computers, phones, and the Dropbox cloud. Key features include file sharing, mobile access, version history, and file recovery. Users can install Dropbox on computers and mobile devices, then drag and drop files to their Dropbox folder to sync and share files seamlessly across all their devices.