Dropbox, thanks to steady growth in paying users, expects to be profitable by the end of the year, CEO Drew Houston said on the file-sharing company’s fourth-quarter earnings call. This is the first time that Dropbox, which was founded in 2007 and went public nearly two years ago, has signaled to investors that it is close to turning a profit. Dropbox reported a net loss of $52.7 million for...
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Breaking Up SVB Is Hard to Do
With bids for the entity formerly known as Silicon Valley Bank due Friday, potential buyers and regulators are running into an interesting reality: Breaking up—and salvaging—SVB is hard to do. Nearly two weeks after SVB failed, the Federal Deposit Insurance Corp. has yet to find a buyer for the so-called bridge bank that took over SVB’s operations, despite being on the third...
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On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
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