32-year-old Dropbox CEO Drew Houston owns a company with a valuation of $10 billion. So who does a billionaire business owner turn to when they need advice about scaling their business? How about $250 billion company owner Mark Zuckerberg.
In an interview with Bloomberg’s Emily Chang, Houston explains that Zuckerberg is the perfect person to explain building a quick company of scale.
Here’s how he describes their working relationship:
“[Zuckerberg’s] given me a lot of advice just on company scaling, how do you organize people, how do you set up these systems.
At scale, you have to be a lot more thoughtful about, how do you compensate people, how do you think about mundane things like their titles or how people advance, how do you decide where to place bets, because you have early stage things, you have more mature products, you have this whole portfolio, how do you keep that running, when the challenges are so different at either end of the spectrum. It’s a lot of things like that.”
Dropbox launched in 2007 and has grown to more than 400 million registered users and 100,000 business customers. The company has also grown from 500 to 1,200 employees in the past 18 months.
Dropbox is growing rapidly, but it is also facing stiff competition from the likes of Amazon and Google, both of which off free storage and collaboration tools that directly compete with Dropbox’s paid services.
Zuckerberg of course demands the attention of more than 1.4 billion monthly active users. Zuckerberg and company also controls more than 1 billion other users through the acquisition of Instagram and WhatsApp.
Various sources have recently pointed to internal problems at Dropbox as the company attempts to develop new revenue streams and formulate a long-term business problem.