The documents will be edited somewhere else and then shared in dropbox. What makes their situation even worse is that they don't own the content (documents, pdfs, spreadsheets). This is 3x more than Slack, but their market cap is 3x smaller.īoth Slack and Evernote are facing the most powerful companies in the world offering their products for free or at really discounted rates. Their projected revenue for 2020 is $1.8B.

I still remember some of the nightmares my coworkers had with OneDrive in meetings when the files for the presentations were missing because of the poor sync capabilities of OneDrive.ĭropbox is no failure. Dropbox sync between different machines worked like magic. I was an early adopter of both of them, and they worked well. Startups that innovated on a great user experience and had a flawless execution in the beginning. The San Francisco-based company had said in October that remote work due to the COVID-19 pandemic will be a primary experience for its employees and its physical spaces will no longer be for daily individual work.Dropbox and Evernote, for me are two very similar companies.

“Our Virtual First policy means we require fewer resources to support our in-office environment, so we’re scaling back that investment and redeploying those resources to drive our ambitious product roadmap,” Chief Executive Officer Drew Houston said in a letter to employees on Wednesday. 5.ĭropbox did not provide details of a replacement for the COO. Shares fell nearly 6% to $22.26 after Dropbox said Chief Operating Officer Olivia Nottebohm, who joined last year from Alphabet Inc’s Google, will step down on Feb. Dropbox to layoff 11% of workforce, COO to step downĭropbox Inc on Wednesday announced the exit of operations chief and said it will cut 11% of its global workforce, or 315 people, as the file hosting service provider shifts business resources in the wake of the COVID-19 pandemic.

Dropbox to global workforce