Thoughts on my drop box thesis? I estimate that it is 33% undervalued and can generate a 16% IRR over the next 7 years.
\- over 18 million paying users.
\- Priced as though the company is bleeding users when in fact they have increased by 5 million over the last 5 years (with a 200k reduction from their peak of 18.22 million - this looks to have stabilized).
\- If they are able to maintain their paying users by increasing value add with products like Dash, only a fraction of their base (2%) need to subscribe for my thesis to be correct.
would love to know what you think of the company and my analysis!
(numbers & charts to support my thesis found in my blog post).
[Dropbox: The Buyback You Forgot About — Valued by Ryley](https://www.valuedbyryley.com/post.php?id=7)