(Reuters/Beck Diefenbach)Apple CEO Steve Jobs talks about the iCloud service at the Apple Worldwide Developers Conference in San Francisco, California, June 6, 2011.
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Steve Jobs, a man of many successes, failed at one thing before his untimely death, the purchase of the quickly rising Internet company Dropbox.
Forbes reported a story concerning Dropbox at the companies' $250 million funding round that details co-founders Arash Ferdowsi and Drew Houston turning down a nine-digit offer from Apple in 2009.
At the time the company was only two-years-old when the Apple chairman, Jobs, held a meeting trying to convince the partners to sell because of his new competing product, iCloud.
Jobs stated he would "crush" their business if they did not sell and was looking out for them saying, "He said we were a feature, not a product,” Houston said reported Forbes.
The young partners who were in their mid twenties at the time, declined the offer and agreed to meet with Jobs again, but it never happened. It was only a few months later when Jobs revealed the iCloud at a June tech convention.
Dropbox is growing rapidly and as of now has 50-million users which as of three years ago is three times more than they had.
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They are set to make $240 million by the end of 2011 even though 96 percent of users pay nothing.
The 4 percent payoff comes from users reaching their 2GB limit and dishing out just $10 for more space.
The company only has 70 people on staff and each worker makes three times more than anyone at Google, reports Forbes.
The competition for Dropbox is endless with companies like Apple, Google, Microsoft, and Amazon creating similar applications, and then there's still its direct competitors like IDrive, YouSendIt, and Box.net.
Houston has stated in previous interviews that the only competition he truly fears is Apple because of their chokehold on the smartphone and application industry.
Currently, Dropbox is working with developers to be the default storage option for every Android phone.
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