Dropbox founder Houston developed the Dropbox concept after repeatedly forgetting his USB flash drive while he was a student at MIT. He says that existing services at the time "suffered problems with Internet latency, large files, bugs, or just made me think too much." He began making something for his personal use, but then realized that it could benefit others with the same problems. Houston founded Dropbox, Inc. in June 2007, and shortly thereafter secured seed funding from Y Combinator. Dropbox officially launched at 2008sTechCrunch50, an annual technology conference.
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