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Dropbox: Managing Innovation in the Networked Economy
The document outlines Dropbox's inception, features, and growth strategies, highlighting its rapid user adoption and unique approach to customer acquisition through gamification and referrals. It compares Dropbox with competitors like Google Drive and iCloud, emphasizing its freemium model and continuous innovations as keys to its sustainability. The presentation also includes statistics about Dropbox's success, such as its user base and revenue growth.
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Dropbox: Managing Innovation in the Networked Economy
- 1. Group 6 Section S2 Dropbox Group 6, Section S2
- 2. Agenda Introduction Growth Competition Sustainability
- 3. Agenda Introduction Growth Competition Sustainability
- 4. What is Dropbox? Dropbox, Inc. founded in 2007 by MIT grads: Drew Houston & Arash Ferdowsi App was released in 2008 Free file hosting service that offers cloud storage, file synchronization, and client software Availabel on: Windows, Mac, Linux, Android, iOS, BlackBerry, and web browsers
- 5. Features! Technical innovations which createdvalue for users
- 6. Work Anywhere All files saved to Dropbox are synched to all devices where the app is installed Lets you get things done no matter where you‟re working from
- 7. Simplified Sharing Invite people to any folder in your Dropbox – folder synced straight to their computer OR Send people links to specific files
- 8. Data Backup andSafety Data is on cloud – independent of personal device Undo mistakes & Undelete files In case a platform is unavailable, use the website
- 9. Efficient and convenient No need to carry USBs or to email yourself your essential files Dropbox reduces bandwidth usage by only syncing the „delta‟ of the changed file
- 10. Agenda Introduction Growth Competition Sustainability
- 11. Agenda Introduction Growth Competition Sustainability
- 12. Explosive Growth The factorsthat led to Dropbox‟s phenomenal growth
- 13. A look atthe stats… Revenue hit about $240 million in 2011 1 billion files are saved to Dropbox every 48 hours Over 100 million users (August 2012) Over 100 employees Installed on 250 million devices Valued at over a billion dollars even by the most conservative estimates
- 14. Dropbox’s “Growth Hacks” Implemented growth hacks to increase its user-base What‟s a growth hack? NO traditional advertising to “buy” each new customer Acquire customers in ways that scale Cost of acquiring each customer ~ $0 Pay only for the execution of the growth hack
- 15. Signup Driven Homepage Demo Video Sign up / Sign in Simple & Clean Layout Download Link Supported Platforms
- 16. Easy Sign upProcess Only a few simple steps Sign up on the desktop – no browser required Getting started file is put in the Dropbox folder itself
- 17. What is Gamification? Use of game-thinking and game mechanics in non-game contexts in order to engage users and solve problems Used in applications and processes to improve user engagement, ROI, data quality, timeliness, and learning
- 19. Invite a Friend Referrals increased Dropbox signups by 60% Dropbox makes referrals easy: via email or a web-link Incentivized referrals – when a person refers someone, they both get a 500MB increase Referrals from friends are more trustworthy than an ad ever could be
- 20. Social Media Incentivized social media integration With each Follow on Twitter, Connect with Facebook or Twitter, Dropbox gives the user a 125MB increase Usage of such Gamification elements drives user engagement
- 21. Dropquest! Contest that makes users go through different puzzles and scavenger hunts Those who place in the top 176 get free space and/or free swag Great way to generate buzz
- 23. Agenda Introduction Growth Competition Sustainability
- 24. Agenda Introduction Growth Competition Sustainability
- 25. Competition An overview ofthe other sync/hosting cloud-based apps
- 26. Google Drive Can open up to 30 kinds of files right inside the browser Using OCR text scanning Google scans the images you upload to drive for text and makes them searchable
- 27. SugarSync On just about every platform Lets you micro-manage what you want to sync Lets you add password protection to files and folders when sharing them publicly
- 28. Apple iCloud Arguably the simplest to use Instant sync works well between iOS and Lion Benefits from Apple‟s ubiquity worldwide
- 29. Microsoft’s SkyDrive Offers7 GBs of storage right off the bat – Best in Class Excels at syncing documents created using Microsoft Office products Creates an experience akin to iCloud but for Microsoft Products
- 30. Box Popular with productivity apps like QuickOffice Easy to integrate into your workflow Detailed version-tracking, a feed of every sync and change you've made to a document
- 31. Agenda Introduction Growth Competition Sustainability
- 32. Agenda Introduction Growth Competition Sustainability
- 33. Sustainability What makes theservice sustainable in the long run?
- 34. Why is itsustainable? Uses a Freemium business model, where users are offered a free account with a set storage size and paid subscriptions for accounts with more capacity Leverages on strong technological background to offer reliable solution to customer Focusses on „winning-over‟ users instead of „buying‟ them out (minimal ad budget, focus on gamification)
- 35. Why is itsustainable? Constant innovations and new features: recently launched a feature to allow users to automatically upload pics/videos from their smartphones, tablet etc. to the cloud User modifications and customizations: encourages novel utilization of the service and creations of addons for the same
- 36. References Schramm, Mike "Dropbox hits 100 million users, looking for great Dropbox stories", The Unofficial Apple Weblog, 15 Nov 2012 OPSWAT "December 2011 Market Share Report“ Barret, Victoria "Dropbox: The Inside Story Of Tech's Hottest Startup”, Forbes, 15 Nov 2011 Lacy, Sarah "Dropbox Raising Massive Round at a $5B-Plus Valuation", TechCrunch, 19 Jul 2011 Surowiekci, James “Innovative Consumption”, The New Yorker, 16 May 2011 Dropbox, Inc. – Official Website (www.dropbox.com)
- 37. Thanks! Lov Loothra Namit Aggarwal PrateekChauhan Meera Kohli Sachin Gupta Tanubhav Tyagi Swati Singhal
Editor's Notes
- #5 This means that any file you save to your Dropbox will automatically save to all your computers, phones and even the Dropbox website.For all ages
- #7 Your life's work wherever you are (platform independent)Eg. You can start working on a computer at school or the office, and finish from your home computer. Never email yourself a file again!With Dropbox mobile, you can even load a file from the app and edit it on the go
- #8 Sharing made easynvite your friends, family and teammates to any folder in your Dropbox, and it'll be as if you saved that folder straight to their computers.You can send people links to specific files in your Dropbox too. Makes Dropbox perfect for team projects, sharing party photos with friends, or recording your band's new album.
- #10 Only the changes made to a file are synched to Dropbox which saves around 80% of the bandwidth on an average
- #16 Options on the homepage are limited. Dropbox wants people to signup when they visit the site. It’s similar to what many private beta startups will do before they launch to the public.Dropbox got 70,000 users overnight just by creating a demo video.
- #17 Helping users with the initial steps makes them keep coming back. Other examples: Facebook lets people find friends via email, gives free advert credits for first time use
- #21 Gamification of invites and social media integration drives user engagement and compels users to try out new features and spend more time with the app