Five years after Dropbox was founded at the Massachusetts Institute of Technology, the company had done the hardest part—solving the Cold Start Problem. The company did it with a classic “come for the tool” strategy, with file syncing across a person’s computers as the initial tool, followed by a network of shared folders with colleagues, friends, and family. They innovated with a referral program where users could give and get storage by inviting friends. User growth was explosive.
