Enterprise cloud-based content management platform
Noticed bigger market showing pull: They realized the business opportunity was much bigger if they pivot to the enterprise.
A consumer cloud-based file storage and sharing service called Box.net
Realized there's much bigger opportunity in B2B
https://open.spotify.com/episode/4T8UyvHrVVRPET7QJ73ooN https://www.youtube.com/watch?v=qeY2BRaS11g
“We looked at our use base and said 2% to 3% of people are paying. And we did the math on how long it would take us to build a real business here when you have 2% to 3% of people paying. We got to this struggle: you either had to be a consumer product that reallly optimized for consumer products, like upsell percentage, consumer use cases, all of that. Or we were listening to customers and heard more advanced and significant busines use cases, like better security, business processes, sharing files across enterprise. That was an entirely different segment of the market but with the same foundation of ‘make it really easy to share files and power how businesses work.’ And so we said, OK, we think this is a bigger opportunity in the business space.” —Aaron Levie, co-founder and CEO
2 years
The core product, but applied to a different persona.