Dropbox

Dropboxは1,100万人が一人100ドル払って売上10億ドル。Boxは7.1万の組織が一組織5,600ドル払って売上4億ドル。個人ベースでDropboxは月900円、法人ベースで月4万7,000円くらい。そんなもんか。Dropboxは2014年のvaluationが10billionだったようだが、BoxのPSRは5.8倍くらいなので、確かに比べられると6billionほどにしかならない。果たして市場はいくらをつけるのか。

Dropbox vs Box
・売上は約2.8倍
・ユーザー数は約10倍

Dropbox
Revenue: $1,106.8 million
Loss: $111.7 million
Free cash flow:$305 million
Users: 500 million
Paid Users: 11 million
Average Revenue Per User: $111.9

Box
Revenue:$398.6 million(FY2017)
Loss:$151.8million
Free cash flow:negative $24.8 million
Users:52 million
Paying Organizations: 71,000
Average Revenue Per Organization:$5,614

Market cap :$1.2 - 2.3 biliion
$9.12 - $17.40 per share
132,773,650 stocks
77,966,423(Class A common stock)
54,807,227(Class B common stock)

*WSJ Dropbox Files for Its Initial Public Offering 2018/2/23
https://www.wsj.com/articles/dropbox-files-to-go-public-1519419035

*Dropbox FORM S-1 Registration Statement
https://www.sec.gov/Archives/edgar/data/1467623/000119312518055809/d451946ds1.htm

* Box IR
https://www.boxinvestorrelations.com/financial-information/financial-reports/default.aspx

* Dropbox vs. Box: Valuation Matchup
https://www.cbinsights.com/research/dropbox-valuation-bubble-2/