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My takeaway from this is just that I'm surprised at how many people are still trying to capture some money from cloud storage. On top of the already-enormous c
by JonFish85 11y ago
My takeaway from this is just that I'm surprised at how many people are still trying to capture some money from cloud storage. On top of the already-enormous competition (Microsoft, Google, Amazon, Apple), Box already had their exit, DropBox is trying to figure out their future and the author of that article is going for the smaller creative-business cloud storage market.
Is there really enough profit in that space to support that kind of differentiation? Especially when the big companies above don't need to turn a profit on their cloud offerings since it's part of their bigger platform, it seems like these companies are chasing after a phantom profit.
"In short, it stuck the landing when a lot of people were predicting a crash, achieving liquidity for its investors and employees along the way."
How is this true? As the article says at the top, they're currently trading for less than half of their IPO price, and the lockups are expiring. Given that the founder was diluted down to the ~5% ownership range, I suspect that employees got hosed on their stock options too. Especially considering that they presumably could have gotten more money elsewhere (if they were top-50 employees and made $200k before taxes, that's roughly $20k/year, again, before taxes).
- hamburglar 11y agoIf your options are at $0.50 and you IPO at $10, you still make money if it drops to $5. Dropping below IPO price is only really a problem for the folks that bought on the IPO. Granted, it may not necessarily be a healthy sign, but it doesn't necessarily mean disaster for the early shareholders.