Recently, slower-than expected growth in the service’s number of paid users caused its share price to drop nearly 14% the day after its numbers were reported.ĭropbox clearly needs a jolt to excite concerned investors weary that the company may have lost its spark. Investors are concerned that while Dropbox is still growing, it isn’t booming like it once did.

Yet since it began trading on Wall Street, Dropbox’s shares have tumbled more than 30%. In 2016 it migrated the bulk of its corporate infrastructure off of Amazon Web Services to its own data centers. Since its debut in 2007, Dropbox has turned its attention to businesses instead of consumers.

The launch of Dropbox Spaces and its accompanying app marks a significant change for the company, a former Silicon Valley unicorn startup that gained prominence for its simple and free service that let people store digital files in the “cloud,” thus saving space on their hard drives. Dropbox wants this app to become the be-all and end-all corporate service where workers spend their waking, productive day. And more importantly, it aims to grow the company beyond the little online folder on where people stuff their bottomless collections of corporate proposals and PowerPoint slides.īut the bigger change to Dropbox may be its new desktop app, which functions as a digital hub where workers can collaborate with colleagues on projects that require access to digital files. Previewed earlier this summer, Spaces is an interlinking between the folders that Dropbox users have become long familiar with. On Wednesday, the San Francisco-based firm announced an evolution of its core product, now called Dropbox Spaces.

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