Nice profile from Boston Globe reporter Scott Kirsner on the two routes to success taken by cloud back-up services Carbonite and Dropbox.
On an August morning four years ago, an MIT alum and an MIT dropout presented their start-up idea to a group of investors gathered in a former candy factory just outside of Harvard Square. They were building a service called Dropbox, which would allow users to store copies of their files online, access them from any computer, and share them with others.
The audience at the event, organized by an entrepreneurship program called Y Combinator, was pretty unimpressed. The market for data backup service already seemed crowded in 2007: Boston-based Carbonite had raised $21 million, and another firm, Utah-based Mozy, was about to be acquired by EMC Corp. for $76 million. None of the investors who saw that first public presentation put money into Dropbox.
-Boston Globe, August 7, 2011