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Dropbox does golden business in the first quarter: smart working effect

Dropbox does golden business in the first quarter: smart working effect

It took a pandemic, but in the end Dropbox also managed to generate profits: for the first time since it went public on the stock exchange, back in 2018, the cloud storage company reported a turnover of 455 million dollars, 18% more compared to the same period of the previous year. It is not difficult to imagine why: with many more people forced to resort to smart working the need for remote storage to share documents and files with colleagues is also growing. Some official highlights:

  • From mid-March onwards, Dropbox Business Teams' trials grew 40%.
  • Also from mid-March onwards, the evidence for the individual Dropbox Plus plans grew by 25%.
  • In the first two weeks of March, Basic season tickets increased a lot in the countries most affected by the pandemic, including Italy.
  • The use of Zoom integration is also growing – easy to predict given the huge popularity boom that the video conferencing platform has made.

The CEO of Dropbox notes that the "conversions" have increased, that is the changes from free / trial accounts to paid ones, as well as direct purchases of premium subscriptions and the level of engagement. Total subscribers are 14.6 million: in the same period last year there were 13.2 million, and in March 2018 11 million.

In short, yet another demonstration that coronavirus, by changing the habits of many people, has caused important alterations to global balances. Some companies and entire sectors are in serious difficulty, others make a lot of money. With a constant: the total uncertainty on how the second half of the year could evolve.